Canvest Environmental Protection's Privatization Scheme Sanctioned by Cayman Islands Court

MT Newswires Live

May 21

The scheme of arrangement related to Canvest Environmental Protection's (HKG:1381) proposed privatization by Grandblue Investment Hong Kong was sanctioned by the Grand Court of the Cayman Islands on May 20, a Wednesday Hong Kong bourse filing said.

Grandblue Environment is offering to pay HK$4.90 per Canvest share, valuing the go-private transaction at HK$11.1 billion.

The scheme is expected to become effective May 30, subject to the fulfillment of certain conditions, while the listing of the firm's shares is expected to be withdrawn June 2.

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