Shareholders in IPL Plastics have backed almost unanimously a sale of the business, formerly known as One51, for CA$555m (€354m) to US private equity firm Madison Dearborn Partners. Approximately 99.95pc of the shares that voted at a shareholder meeting on Monday backed a special resolution in support of the sale. Assuming those hurdles are met, the sale is expected to close by mid-October 2020, when its shares will be de-listed from the Toronto Stock Exchange. The sale was recommended by IPL directors ahead of yesterday’s shareholder vote. When IPL floated on the Toronto Stock Exchange in June 2018, former One51 shareholders received one new IPL share for every five existing One51 shares.

Source: Irish Independent September 28, 2020 19:06 UTC