Property search engine company the Mitula Group (ASX:MUA) has been suspended from quotation since the close of trade yesterday.
This is following lodgement of the Supreme Court of Victoria orders with the Australian Securities and Investments Commission approving the scheme of arrangement by which LIFULL Co. will acquire all of the issued shares in MUA.
LIFULL Co is a real estate information services company based in Japan. They employ over 1,000 people .
Mitula will become a wholly-owned subsidiary of the Company by means of a scheme of arrangement under the Australian Corporations Act.
The Implementation Date of the Scheme of Arrangement will be January 8, 2019.
Shares in Mitula Group (ASX:MUA) closed 1.3 per cent higher at $0.80 yesterday.