LIC is set to divest its 19.75% shareholding in National Milk Records PLC, with a scheme of arrangement subject to approval by the UK courts and other customary conditions.
The transaction is expected to close in mid-July, with LIC divesting 4,194,880 shares in National Milk Records PLC at £2.15 per share.
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The deal is subject to regulatory approvals and commercial conditions.
Every sector of the Australian share market has lost ground.
The S&P/NZX 50 Index closed at the day’s low of 12,349.47, down 46.79 points or 0.38%.
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