Seymour Whyte Limited (ASX:SWL) has extended VINCI Construction International Network’s exclusivity period, as VINCI looks to progress its purchase of the company.
VINCI is seeking to progress the potential 100 per cent control transaction on key commercial terms, agreed with Seymour Whyte.
VINCI says it requested the extension to agree on a binding scheme implementation agreement, that included internal approval from Seymour Whyte.
Seymour Whyte’ Board says VINCI’s continuation of exclusive negotiations is in the best interest of shareholders.
Shares in Seymour Whyte Limited (ASX:SWL) last traded flat at $1.20.