Snippets Corner: 18 March 2010 – MTS, SPT
March 17, 2010
In a joint statement released yesterday afternoon, Metcash Limited (MTS) and Mitre 10 Group said the Supreme Court of Victoria approved the inter-conditional schemes of arrangement between the two companies. Under the scheme Metcash would acquire a 50.1% interest in Mitre 10 in return for injecting an estimated $55 million of new equity capital into the Mitre 10. The companies said the court’s approval of the schemes follows the approval by Mitre 10 Australia Limited and Mitre 10 Limited shareholders at scheme meetings held last Friday.
Spotless Group Limited (SPT) has completed the acquisition of the privately owned international cleaning and outsourced services company, CE Property Services Group ‘Cleanevent’. Spotless said the Cleanevent has revenue of over $140 million, with approximately 60% of revenue generated in Australia. The company said the acquisition was comfortably funded from existing debt facilities. Spotless added that the acquisition provides Spotless’ Facility Services operations with an established presence in new geographies including the United Kingdom, Europe, the United States and the Middle East.
Spotless Group Limited (SPT) has completed the acquisition of the privately owned international cleaning and outsourced services company, CE Property Services Group ‘Cleanevent’. Spotless said the Cleanevent has revenue of over $140 million, with approximately 60% of revenue generated in Australia. The company said the acquisition was comfortably funded from existing debt facilities. Spotless added that the acquisition provides Spotless’ Facility Services operations with an established presence in new geographies including the United Kingdom, Europe, the United States and the Middle East.
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