EQT Infrastructure IV fund managed by EQT Partners AB made an offer to acquire Metlifecare Limited (NZSE:MET) from a group of shareholders for NZD 1.3 billion on July 5, 2020. EQT will acquire all the shares of Metlifecare Limited at a price of NZD 6 per share. On July 10, 2020, EQT Infrastructure IV fund managed by EQT Partners AB entered into scheme of arrangement to acquire Metlifecare Limited from a group of shareholders. The termination fee will be paid as NZD 12.8 million by the party, which terminates the transaction. The transaction is subject to approval by Metlifecare shareholders, statutory approvals, regulatory approvals and High Court approval. The shareholder meeting will be held on July 10, 2020. Metlifecare Board, comprising of Christopher Aiken, Mark Binns, Alistair Ryan, and Rod Snodgrass recommends its shareholders to vote in favour of scheme and Kim Ellis recommends the shareholders to vote against the scheme. The transaction is approved unanimously by majority of Board of Directors of Metlifecare. The scheme is anticipated to be implemented in late October 2020. The scheme meeting will be held on October 2, 2020. The final court order will be given on October 15, 2020. As of September 14, 2020, the transaction is approved by New Zealand Overseas Investment Office. Metlifecare shareholders approved the transaction on October 2, 2020. On October 13, 2020, Metlifecare advised that it deferred its decision on whether to issue a ‘no objection’ statement in respect of the Scheme of Arrangement with Asia Pacific Village Group Limited until October 19, 2020. The deferral of the Takeovers Panel decision may result in a consequential delay to the scheme timetable, including to the scheduled implementation date of October 29, 2020. Metlifecare has been advised that the High Court hearing to seek final orders in respect of the scheme of arrangement have been deferred from the scheduled date of October 15, 2020 to October 20, 2020. As of October 19, 2020, Takeovers Panel has advised it intends to provide Metlifecare with a ‘no objection’ statement with respect to the transaction. As per announcement made on October 20, 2020, final court approval has been received. The transaction is expected to be completed by October 29, 2020. As on October 14, 2020, in the event that final Court orders are granted in the middle of next week, the implementation date would consequently be November 3, 2020. Jarden Partners Limited and Simmons Corporate Finance Limited acted as financial advisors and Chapman Tripp acted as legal advisor to Metlifecare. The Goldman Sachs Group, Inc. acted as financial advisor, Bell Gully, King & Wood Mallesons LLP and Simpson Thacher & Bartlett LLP acted as legal advisors and Ernst & Young AB acted as accountant to EQT Partners. Colliers also acted as advisor to EQT Partners. Calibre Partners acted as financial advisor to Metlifecare.