Mattioli Woods acquistion gets NS&I Act approval

21st Aug 2024 12:16

(Sharecast News) - Mattioli Woods announced on Wednesday that its acquisition by Tiger Bidco, a subsidiary of investment vehicles advised by Pollen Street Capital, had passed a significant regulatory milestone.

The AIM-traded firm said the National Security and Investment (NS&I) Act approval condition had been satisfied, meaning no further action would be taken under the act.

It said the development ensured that the previously-announced cash acquisition could proceed as planned.

The acquisition would be executed through a court-sanctioned scheme of arrangement under the Companies Act.

Mattioli Woods said the scheme was approved at meetings held on 25 April, following the publication of the scheme document on 28 March.

With the NS&I condition now met, the acquisition timetable remained on track, as outlined in the 19 August announcement.

At 1115 BST, shares in Mattioli Wood were up 0.05% at 797.36p.

Reporting by Josh White for Sharecast.com.