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.