Spielwarenmesse: Nisa members vote yes on Co-Op takeover

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Nisa members vote yes on Co-Op takeover

14. November 2017 11:51 h:

Wholesaler and convenience store group votes significantly in favour of £137.5m bid

By www.toysnplaythings.co.uk

Members of wholesaler and convenience retail specialist Nisa Retail have voted significantly in favour of the Co-op Group’s offer to buy 100 per cent of the business for up to £137.5m.

Yesterday, members voted 75.79 per cent in favour and 24.21 per cent against the Co-op’s offer, which still requires clearance from the CMA. Clearance is expected around the end of March next year.

Nisa shareholders will receive an equal initial payment, a deferred share payment payable over three years, as well as additional rebates payable over four years.

Along with taking on the existing Nisa debt of £105m, the combination is expected to bring significant immediate and long-term benefits for Nisa members, including access to greater scale, the Co-op’s award-winning range and own label proposition. Members will still enjoy the independence to operate their stores as they wish, and will be able to remain part of a member-owned organisation within the growing UK convenience retail sector.

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