SG Fleet Group (ASX:SGF) said that a court hearing to approve a proposed scheme of arrangement, under which Westmann Bidco will acquire a 100% stake in SG Fleet, is scheduled for April 15 at the Supreme Court of New South Wales, according to a Tuesday Australian bourse filing.
The court hearing is subject to approvals being obtained at the general scheme meeting and the relevant management shareholder scheme meeting, both of which are expected to be held on April 8.
Westmann Bidco is an entity controlled by private markets fund manager Pacific Equity Partners.
SG Fleet shareholders have the right to appear and be heard at the court hearing and may oppose the approval of the scheme after notifying the firm, per the filing.
SG Fleet's board recommended that shareholders vote in favor of the scheme.
The company's shares were up almost 1% in recent Tuesday trade.
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