Arbor Memorial Services Inc. Announces Closing of Previously Announced Arrangement
TSX ABO.A and ABO.B
TORONTO, Nov. 26, 2012 /CNW/ - Arbor Memorial Services Inc. (TSX: ABO.A, ABO.B) ("Arbor") announced today the successful completion of the previously announced arrangement (the "Arrangement") pursuant to which 2341599 Ontario Limited (the "Purchaser"), a company owned by a group (the "Equity Sponsors") of existing shareholders of Arbor, comprised of Scanfield Holdings Ltd., Fairfax Financial Holdings Limited and JC Clark Ltd. (or their respective affiliates), acquired all of the outstanding Class A voting shares and Class B non-voting shares (collectively, the "Shares") of Arbor (other than certain Shares held by the Equity Sponsors) for $32.00 per Share in cash.
With the completion of the Arrangement, the Shares will cease to be listed on the Toronto Stock Exchange on or about the close of business on November 27, 2012. Arbor intends to apply to the relevant securities regulatory authorities to cease to be a reporting issuer in the applicable jurisdictions in Canada.
Details of the Arrangement are contained in the management information circular of Arbor dated October 5, 2012, which can be found at www.sedar.com
Arbor owns 41 cemeteries, 27 crematoria and 92 funeral homes in eight provinces of Canada.
Cautionary statement regarding forward-looking statements and information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities laws, including statements regarding the expected delisting of the Shares, the application to cease to be a reporting issuer and other information that is not historical fact. Forward-looking information is not a guarantee of future performance, given that it involves risks and uncertainties. Except as required by law, Arbor does not assume and expressly renounces any obligation to update any forward-looking information, which are only applicable on the date on which they were made. Additionally, Arbor undertakes no obligation to comment on expectations of, or statements made by, third parties in respect of the Arrangement.
SOURCE Arbor Memorial Services Inc.