Infomedia (ASX:IFM) said McQueen BidCo's proposed acquisition of all Infomedia shares via a scheme of arrangement received a green light from Australia's Foreign Investment Review Board, which satisfies a condition precedent in the scheme implementation agreement, according to a Monday Australian bourse filing.
McQueen BidCo is an entity owned by an investment holding entity in Singapore, managed or advised by TPG Capital or its related entities.
The scheme remains subject to certain other conditions, including approval of Infomedia shareholders at the scheme meeting and court approval.