Irish estate agency Sherry Fitzgerald will be delisted from the Dublin and London stock exchanges in less than a month following an MBO headed by CEO Mark FitzGerald.
A new company Renlin, which is owned by Mark FitzGerald and other Sherry FitzGerald executives, offered €26m for the company.
The offer was declared unconditional last month after Renlin received more than four-fifths valid acceptances.
DTZ is a small shareholder in the agency, whose commercial property section is DTZ’s Irish associate.
The compulsory acquisition of the remaining shares is expected to be completed on, or shortly after, 4 July.
Renlin is being advised by IBI Corporate Finance.
References: EGi News 18/06/03
