SG Fleet Group (ASX:SGF) said that its major shareholder Super Group announced that its shareholders approved the disposal by Bluefin Investments, a unit of Super Group, of its 53.6% interest in SG Fleet, according to a Wednesday Australian bourse filing.
The sale concerns a proposed acquisition by Westmann Bidco, an entity owned and controlled by funds managed or advised by Pacific Equity Partners, of all the shares in SG Fleet by way of a scheme of arrangement.
The SG Fleet board recommended that SG Fleet Shareholders vote in favor of the scheme, in the absence of a superior proposal.
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