UPDATE 3.30pm: The Overseas Investment Office has given Japan's Asahi approval to take 100% control of the NZ juice company - but the Japanese giant is still far from the 90% acceptance it needs from shareholders.
UPDATE: 3.30pm: The Overseas Investment Office has today granted Asahi consent to take up to 100% control of Charlie’s Group.
The offer remains conditional on the receipt of acceptances for 90% or more of the Charlie’s shares.
The offer will close for acceptance at midnight on 19 August 2011, unless extended by Asahi in accordance with the Takeovers Code.
Earlier today, Asahi said it had 53% acceptance for its takeover offer so far.
Charlies shares (NZX:CHA) were flat at 43 cents in late trading.
A majority of Charlie's (NZX:CHA) shareholders have accepted Japanese beverage company Asahi's takeover bid at 44c per share.
As at the close of business on Friday, Asahi had received valid acceptances representing 53.21% of Charlie's shares.
These included acceptances received from a number of key shareholders, including Collins Asset Management Limited, Tim Cook, Ted van Arkel and the trustees of the family trusts of Charlie's chief executive Stefan Lepionka, Simon Neal and Marc Ellis.
The offer remains conditional, including upon Asahi obtaining all consents required under the Overseas Investment Act 2005 and the Overseas Investment Regulations 2005 for Asahi to complete the acquisition of the Charlie's shares under the offer.
The offer will close for acceptance at midnight on August 19, unless extended by Asahi in accordance with the Takeovers Code.
