The Supreme Court of New South Wales has approved the acquisition of Apiam Animal Health (ASX:AHX) by Adamantem Capital.
The decision, handed down on Feb. 6, paves the way for the completion of a complex scheme of arrangement that will see Apiam transition into private ownership.
Under the terms of the approved deal, Apiam will be acquired by Pepper Bidco and Pepper Holdco, both entities under the control of the Adamantem Capital Fund II.
The acquisition marks a significant consolidation in the Australian animal health market, bringing Apiam's extensive network of regional and rural veterinary clinics under the management of Adamantem Capital Management.
The legal process is moving rapidly following the court's endorsement.
Apiam representatives confirmed they intend to lodge the formal court orders with the Australian Securities and Investments Commission before the close of business on Feb. 6.
At the time of reporting, Apiam Animal Health's share price was $0.87.