Nuplex says Allnex takeover given European antitrust approval; shares to delist

Nuplex Industries [NZX: NPX] confirmed its takeover by Allnex Belguim SA had received antitrust clearance from the European Commission, paving the way for its transfer into the hands of the private-equity backed Belgian company to create one of the world's largest makers of coating resins.

Nuplex shares will cease trading on the NZX and ASX at the close of trade on Monday, Sept. 5, the Auckland-based company said in a statement. Shareholders owning the stock on the record date of Sept. 7 will receive $5.43 per share, and a dividend payment of 3.15 cents per share due to a delay in receiving EC antitrust approval, the company said.

The shares will be delisted from the NZX and ASX at the close of trading on Tuesday, Sept. 13. The stock last changed hands at $5.35, having advanced 13 percent this year.

(BusinessDesk)

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