Arbor Memorial Services Inc. Announces Court Approval of Arrangement
TSX ABO.A and ABO.B
TORONTO, Nov. 22, 2012 /CNW/ - Arbor Memorial Services Inc. (TSX: ABO.A, ABO.B) ("Arbor") announced today that it has obtained a final order from the Ontario Superior Court of Justice with respect to the previously announced arrangement pursuant to which 2341599 Ontario Limited, a company sponsored 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), will acquire all of the outstanding shares in the capital of Arbor.
It is anticipated that the arrangement will occur early next week following the satisfaction of certain customary conditions. The arrangement remains subject to certain risk factors set forth in Arbor's management information circular dated October 5, 2012.
Arbor Memorial Services Inc. 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 completion of the arrangement and other information that is not historical fact. Such forward-looking information is subject to important risks and uncertainties. As a result of these risks and uncertainties, completion of the arrangement could be delayed or the arrangement may not be completed at all, and the results or events expressed or implied in any forward-looking information may differ materially from actual results or events. 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. 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.