Pearl to be taken over by Liberty International

Liberty will acquire 100% of Pearl Group by the issue of 52.8m new ordinary shares to Pearl's current shareholders and other stakeholders. In addition, Liberty may issue up to a further 35m new ordinary shares by way of earn-out consideration. At completion, Pearl will be owned approximately 60% by Liberty International shareholders, 29.5% by Pearl's existing shareholders and 10.5% by other stakeholders. The name of Liberty International will be changed to ‘Pearl Group', Liberty's listing on Euronext will be maintained and the company will seek a primary listing on the London Stock Ex...