Shareholders approve NDS private move | |
Shareholders have today approved plans to take NDS into private hands and the arms of News Corp and private equity firm Permira Advisers LLP. It follows a shareholder meeting convened by the High Court of Justice in England and Wales and a subsequent Extraordinary General Meeting.
The existing NDS A ordinary shares will be cancelled as will 67% of NDS B ordinary shares. New NDS B ordinary shares will then be issues to two newly incorporated subsidiaries of funds, so-called “Newcos”, advised by Permira.
Assuming the transaction is completed News Corporation and the Newcos would own approximately 49% and 51% of NDS.
A court hearing to approve the arrangement has been scheduled for January 27, 2009 with a further hearing related to the reduction of capital slated for February 4.
Source:BroadbandTVNews | 
14-01-2009
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