Veris shareholders voted overwhelmingly today in favour of the sale of its property and facilities management businesses to US multi-national, Aramark, for almost €51 million.
The Dublin and London-listed company agreed the sale of the businesses to Aramark, owner of Campbell Catering, earlier this month.
The deal needed shareholders’ approval, and over 95 per cent of them by value voted for the sale at an extraordinary general meeting in Dublin earlier today.
Once the sale goes through, Veris will be a cash shell, and shareholders have also approved its ultimate de-listing from both markets.
Shareholders, including founder Niall McFadden and his investment vehicle, Boundary Capital, will receive a total of €14.8 million from the deal.
The money will be distributed to them in January and June of next year.
Close to €31 million of the total €50.8 million purchase price will go to repaying debts owed to State-owned Anglo Irish Bank.
Veris was worth a total of €7.7 million when it trading closed in Dublin the day before the company announced the Aramark deal.
:quality(70)/s3.amazonaws.com/arc-authors/irishtimes/94b68139-c0b9-4a6e-a0d4-0691e9d68362.png)