CC Capital Insignia bid clears penultimate hurdle
CC Capital Partners’ bid for Insignia Financial has taken its next step with the Federal Court yesterday approving the Scheme of Arrangement.
Insignia announced to the Australian Securities Exchange that the Federal Court had issues orders that Insignia convene a meeting of shareholders to consider and vote on the scheme and had approved the distribution of the Scheme Booklet.
Insignia said it expected the Scheme Booklet to be dispatched by 4 March with the Scheme Meeting to be held on 13 April.
The ASX announcement said the Insignia board unanimously recommends that its shareholders vote in favour of the Scheme in the absence of a superior proposal.
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