Tribal Group (LON: TRB), the education software provider, said today it has completed the sale of its operating subsidiaries to Thames Bidco, a buyer controlled by Main Capital Partners funds, for £231,219,773 in cash. This is a sale of businesses followed by a members’ voluntary liquidation, a solvent wind-up, not a takeover offer, so no per-share price was paid to holders.
Tribal shares were quoted at 100.25p at 15:29 UK time, a minute before the announcement, against yesterday’s close of 101p. Closing prices have ranged between 99.6p and 103p since the 28th of September, up from 63p at the close on the 10th of September, the day before the deal was announced.
Tribal received £225,098,891 for the…