SG Fleet Group (ASX:SGF) said its shareholders approved the acquisition of the company by Westmann Bidco, an entity owned by private markets fund manager Pacific Equity Partners, in a Tuesday meeting, according to a same-day Australian bourse filing.
The company said 90.61% of the votes cast by its shareholders at the general scheme meeting were in favor of the acquisition via a scheme of arrangement.
SG Fleet said it will now seek approval of the scheme from the Supreme Court of New South Wales on April 15.
If approved, SG Fleet will lodge the court orders with the Australian Securities and Investments Commission on April 16. The company's shares are expected to be suspended from trading at market close on the same day.
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