Spotless loses ASX200 spot as Downer owns over 80%

Company News

by Jessica Amir

Spotless Group Holdings (ASX:SPO) will be removed from the S&P/ASX 200 Index as a result of Downer EDI (ASX:DOW) now owning over 70 per cent of the company.

The index provider, S&P Global says, it will remove Spotless Group from the index on 7 August 2017 with Ooh!Media Limited (ASX:OML) set to take its place in the top 200.

In the meantime, Downer advised the market that it now has a 80.3 per cent stake in Spotless.

Its offer of $1.15 cash per share is set to close on 31 July 2017 at 7pm unless extended. 

Shares in Spotless Group last traded flat at $1.15.
 

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.