The High Court has approved the final stage of the scheme by which Anton Bilton’s Raven Mount will be split following the sale of its Russian property fund management business for £83.4m.
After a 30-minute hearing, Mann J sanctioned the AIM-listed developer’s complex scheme of arrangement through which Raven Mount’s Russian business, Russian Property Management Ltd, is demerged from its domestic UK business.
Lawyers for Raven Mount told the court that shareholder support for the scheme was overwhelming
The formal demerger will take place tomorrow.
