Singer Capital Markets is delighted to have acted as Financial Adviser to Arizona Bidco on its £167 million Acquisition of Foresight Sustainable Forestry Company.
Under the terms of the Acquisition, each Scheme Shareholder was entitled to receive 97 pence for each Scheme Share in cash or to elect for Rollover Shares in Arizona Bidco, a wholly-owned indirect subsidiary of Averon Park. The Offer Price represents a premium of approximately 44.24% to the volume weighted average price of 67.3 pence per share for the six-month period ended 28 May 2024.
Valid elections from Scheme Shareholders representing approximately 14.15% of the issued ordinary share capital of FSFC were received for the Rollover Shares in Arizona Bidco and such elections are expected to be satisfied in full.
Commenting on the Acquisition, Richard Davidson, FSFC’s Chairman, said:
“The offer from Arizona Bidco is at a price that represents a significant premium to the volume weighted average price for the past three months. We believe this offer represents good value for shareholders, and therefore we are recommending it. The structure of the deal means investors can continue to participate in the compelling investment fundamentals presented by the forestry and carbon credit industries through a private structure.”
About Foresight Sustainable Forestry Company plc
Foresight Sustainable Forestry Company provides investors the opportunity for real returns and capital appreciation driven by the prevailing global imbalance between supply and demand for timber; the inflation-protection qualities of UK land freeholds; and biological tree growth which is not correlated to financial markets. The Company targets a net total return of more than CPI +5%.
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