SG Fleet Group Limited (ASX:SGF) announced that the Supreme Court of New South Wales has approved the scheme of arrangement for Westmann Bidco Pty Limited, controlled by Pacific Equity Partners, to acquire 100% of SG Fleet’s shares. The court order is expected to be lodged with ASIC on Wednesday, April 16, 2025, making the scheme legally effective and binding. SG Fleet shares will be suspended from trading on the ASX at the close of trading on the same day.
The key dates for the scheme implementation include the Effective Date of April 16, 2025, the Scheme Record Date at 7:00 pm (Sydney time) on April 23, 2025, to determine entitlements to the Scheme Consideration, and the Scheme Implementation Date on April 30, 2025, when the Scheme Consideration will be issued. These dates are indicative and subject to change, with any modifications announced on the ASX.
This acquisition signifies a major shift for SG Fleet, transitioning from a publicly listed company to private ownership under Pacific Equity Partners. The deal underscores the ongoing activity in the mergers and acquisitions market, with private equity firms actively seeking strategic investments in established businesses.
