UK government clears Vossloh's planned acquisition of Cordel

(Sharecast News) - Cordel said on Friday the UK government had cleared Vossloh's recommended cash acquisition of the company under the National Security and Investment Act, satisfying one of the remaining conditions to the deal. The company's shareholders approved the scheme of arrangement on 30 June.

The acquisition remains subject to court sanction and other outstanding conditions, with the court hearing scheduled for 11 August.

The scheme is expected to become effective around 13 August, after which Cordel's shares are expected to be cancelled from trading on AIM.

At 1623 BST, shares in Cordel Group were up 0.01% at 12.15p.

Reporting by Josh White for Sharecast.com.

See latest RNS on Investegate