Veda receives FIRB approval

Company News

Veda Group Limited (ASX:VED) has received the green light to sell 100 percent of its shares to Equifax Inc’s via a scheme of arrangement.
 
The Foreign Investment Review Board (FIRB) notified the company that the Australian government has no objections in relation to its foreign investment policy.
 
The directors of Veda continue to unanimously recommend that Veda shareholders vote in favour of the scheme, in the absence of a superior proposal.
 
If the scheme is approved and all conditions satisfied, Veda shareholders will receive a cash payment of $2.825 per Veda share.
 
Veda Group recorded a net profit of $78.41 million at 30 June 2015.