SP completes compulsory acquisition of Chariot

Now a subsidiary, Chariot will cease trading on the ASX from tomorrow.

SP Telemedia (ASX:SOT), owners of the TPG Soul Group, has completed the compulsory acquisition of Chariot Limited (ASX:CTI).

SP in June bought up a 95 percent stake of Chariot. Under Australian law, any company which owns more than 90 percent of a class of shares in a company can compulsorily acquire the remaining shares.

Due to the acquisition, Chariot will cease trading on the ASX at the close of business today.

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