NEWS20 December 2016

Creston shareholders vote for sale

M&A News UK

UK – The recommendation by marketing communications group Creston’s independent directors’ to sell the business to DBAY has been voted for by its shareholders. 

Barrie Brien_crop

The offer was announced on 17th November 2016 and, following the shareholder vote and subject to court sanction, the company is expected to be delisted from the London Stock Exchange on the 23rd December 2016.

Non-executive directors Nigel Lingwood and Kate Burns will step down as board directors once the offer is effective.

Creston plc will become Creston Ltd and continue to be the parent company of the Unlimited Group, as well as partner to Serviceplan Group, Ariadna, Foresight Factory, Propeller Communications and Goodstuff.

Barrie Brien (pictured), group chief executive, said: “We’re delighted Creston shareholders have voted overwhelmingly to accept the offer and today’s vote allows our shareholders to realise value from their investment in cash at an attractive premium.

“Furthermore, it offers the business, with the support of DBAY Advisors, an exciting opportunity to continue to grow the Unlimited Group as a private company, which we believe is in the best interests of our clients and colleagues.”