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Offeror(s): JEVIC NZ Limited
Independent Adviser(s): Simmons Corporate Finance (Rule 21)
Offer Date: 09/01/2013
Closing Date: 13/02/2013
Offer Type: Full
Summary of transaction
On 9 January 2013, JEVIC NZ Limited (“JEVIC”) made a full takeover for all the ordinary shares in Vehicle Inspection New Zealand Limited (“VINZ”).
The consideration offered for each VINZ share was initially $1.65 cash. The consideration was increased to $2.15 during the offer period.
The offer was conditional on (among other things):
JEVIC receiving more than 50% acceptance of its takeover offer;
the NZTA providing certain assurances; and
the General Manager agreeing to remain with VINZ.
The offer closed on 13 February 2013 with JEVIC receiving 100% acceptances.