Kelowna juice co. 'rype' for picking
Sep 25, 2013 / 10:55 am
Jim Pattison's multi-billion dollar empire is about to get 'juiced up.'
Shareholders of Sun-Rype Products Ltd. approved, at a special meeting Tuesday, sale of the company to SRF Acquisition Inc and Great Pacific Industries Inc.
At Tuesday's meeting, the sale was approved by 84.69% of votes cast by shareholders voting as a single class and by 54% of the votes cast by shareholders after excluding the votes of SRF and its affiliates.
Under the Arrangement, SRF will acquire all of the common shares of the company not already owned by SRF and its affiliates for $7.50 per common share.
An application to the Supreme Court of BC for final approval of the sale is scheduled for tomorrow (Thursday).
If that goes through the sale is expected to become effective on or before next Monday.
SRF Acquisitions is a wholly owned subsidiary of Great Pacific Industries.
The deal is said to be worth $94M.
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