High Court Approves Toluna Sale

The High Court of Justice in England and Wales has today approved the sale of online panel and research technology provider Toluna to ITWP, a firm set up by Belgian investor Verlinvest to oversee and manage the deal.

The arrangement, which values Toluna at £161m ($259m), was announced in February. Belgian family-owned firm Verlinvest - currently Toluna's third-largest shareholder - will fund the acquisition from its own assets.

At the end of March, Toluna shareholders agreed to the deal, which will result in the firm's founder and CEO Frédéric-Charles Petit (pictured) becoming a director of ITWP, while continuing to lead Toluna's management team.

It is expected that tomorrow will be the last day for dealing in Toluna shares, although completion of the deal remains subject to certain conditions set out in the 'scheme document'.

Assuming the scheme is approved on 18 April, the admission to trading of Toluna shares on the AIM stock exchange will be cancelled at 7am the following morning.

Web site: www.toluna-group.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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