Eleia Limited has agreed to acquire the entire issued and to be issued ordinary share capital of Augean (AUG.L). Eleia is a special purpose vehicle formed by investment funds managed by Ancala and investment funds managed by Fiera Infrastructure. Under the offer, Augean shareholders will be entitled to receive, for each Scheme share: 325 pence in cash. The deal values the entire issued and to be issued ordinary share capital of Augean at approximately 341.2 million pounds. The Augean directors plan to recommend unanimously that its shareholders vote, or procure the voting, in favour of the Scheme at the Court Meeting. The Directors urged shareholders to take no action in relation to the MSIP Offer.
"We recognise the increase in the price offered to Augean Shareholders under the offer when compared with the MSIP Offer and have accordingly recommended the offer to Augean shareholders," Jim Meredith, Executive Chairman of Augean said.
Ancala is an independent infrastructure investment manager. Fiera Infrastructure is a global mid-market, infrastructure investment manager headquartered in Toronto, Canada.
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