Opus Majority Shareholder UEM Edgenta Approves WSP Offer
Opus Majority Shareholder UEM Edgenta formally approves WSP offer
Opus International Consultants Limited (Opus) has today announced that the Effective Offer Price of $1.92 in cash per share by WSP NZ Acquisition Limited (WSP) was formally approved by its majority shareholder UEM Edgenta Berhad, at its AGM on Thursday 2 November.
The percentage of Opus shareholders who have accepted the offer now amounts to 88.95%. The offer period remains open for acceptance until 11.59pm on 27 November 2017, unless extended in accordance with the New Zealand Takeover Code.
In the event WSP achieves acceptances from holders of 90% of Opus Shares it will be entitled to enact compulsory acquisition provisions to effect a full takeover of Opus, subject to first obtaining approval from the Overseas Investment Office (OIO) for the acquisition.
“Opus is pleased to have reached this significant milestone, and to be that much closer to be joining forces with WSP, a leading global professional services firm. The Effective Offer Price from WSP represents a significant premium above the price that Opus shares have been trading at in advance of the Offer and was fully supported by Opus’ Independent Directors. We look forward to the next stage in the journey towards our company becoming part of the global WSP team.” says Keith Watson, Chair of Opus.
Further information relating to the revised WSP Offer is available at https://www.nzx.com/companies/OIC.
Headquartered in Wellington, Opus International Consultants is a global infrastructure development and services company with more than 35 offices across New Zealand, the UK, Australia and North America. www.opus.co.nz
WSP is a wholly-owned subsidiary of WSP Global Inc., a leading global professional services firm.