SARIA SE & Co. KG completed the acquisition of Devro plc from Rohan August Cummings, Stephen Paul Good, Rutger Albert Helbing, Veronica Lesley Jackson, Malcolm Stuart Swift, Devro Directors and other shareholders
The Devro Directors intend to unanimously recommend the scheme. The scheme will be subject to approval of a majority Devro' shareholders at the Court Meeting and at the General Meeting, the sanction of the scheme by the Court, CMA approval, Austrian Competent Authorities approval, applicable requirements of the Takeover Code, the Panel, the London Stock Exchange and the FCA. As of April 13, 2023, the transaction has received Court approval. Devro Directors holding total 392,346 Devro shares, representing approximately 0.2% stake have irrevocably undertaken to accept the scheme. The scheme is expected to become Effective before the end of Q3 2023. As of April 13, 2023, the transaction is expected to be effective on April 14, 2023.
Travers Smith LLP is acting as legal adviser to SARIA. Clifford Chance LLP and Shepherd and Wedderburn is acting as legal adviser to Devro. Dwayne Lysaght and Karim Taha of J.P. Morgan Cazenove acted as financial advisor to SARIA Nederland B.V. and Jon Raggett and Duncan Skailes of PwC acted as Financial Adviser to SARIA. Richard Shaw, Matt Knott and James Cliffe of Lazard acted as Financial Adviser to Devro. Computershare acted as Devro's registrars.
SARIA SE & Co. KG completed the acquisition of Devro plc (LSE:DVO) from Rohan August Cummings, Stephen Paul Good, Rutger Albert Helbing, Veronica Lesley Jackson, Malcolm Stuart Swift, Devro Directors and other shareholders on April 14, 2023. At the request of the Devro Plc, the securities have been cancelled from admission to trading on London Stock Exchange with effect from April 14, 2023.