Infomedia Shareholders Back TPG Capital Acquisition Scheme, Await Court Nod
Infomedia Limited shareholders have overwhelmingly approved a scheme of arrangement for acquisition by a TPG Capital-managed entity, with final court approval scheduled for 21 November 2025. The deal will lead to Infomedia’s delisting from the ASX and includes a special dividend and tax ruling application.
- 87.38% shareholder approval for acquisition scheme
- Bidder Loan resolution passed at General Meeting
- Re-election of director Jim Hassell approved
- Scheme subject to final court approval on 21 November
- Infomedia shares to be suspended and delisted post-approval
Shareholder Approval Secures Major Step for Infomedia
Infomedia Limited (ASX, IFM) has taken a significant stride towards a change in ownership after its shareholders voted decisively in favor of a scheme of arrangement that will see the company acquired by McQueen BidCo Pty Ltd, an entity linked to TPG Capital. The scheme received robust support, with 87.38% of shareholders present and voting endorsing the proposal, and an overwhelming 99.55% of votes cast in favor.
Additional Resolutions Passed at General and Annual Meetings
Alongside the scheme approval, shareholders also passed the Bidder Loan resolution at the General Meeting, a key financial arrangement underpinning the acquisition. Meanwhile, at the 2025 Annual General Meeting, shareholders endorsed Infomedia’s remuneration report and re-elected Jim Hassell as an independent non-executive director, signaling continuity in governance during the transition.
Next Steps, Court Approval and Implementation Timeline
The scheme remains conditional on final approval by the Supreme Court of New South Wales, with a hearing scheduled for 9, 15 am on 21 November 2025. Should the court grant its approval and all other conditions precedent be satisfied or waived, the scheme will become legally effective the same day. Infomedia shares are then expected to be suspended from trading on the ASX at market close on 21 November, with the scheme’s implementation and payment of consideration to shareholders anticipated on 3 December 2025.
Special Dividend and Tax Considerations
In conjunction with the acquisition, Infomedia has announced a special dividend, with key dates set for late November. The company has also applied for a class ruling from the Australian Taxation Office to clarify the tax implications for shareholders participating in the scheme and receiving dividends. This ruling, once received, could provide shareholders with valuable tax offsets, enhancing the overall value proposition of the transaction.
Market Impact and Future Outlook
This acquisition marks a pivotal moment for Infomedia, transitioning from a publicly traded entity to private ownership under a global investment firm. The involvement of TPG Capital, a well-established private equity player, suggests potential strategic shifts ahead. Investors and market watchers will be keenly observing the court’s decision and subsequent developments, including how the company’s operations and strategy evolve post-acquisition.
Bottom Line?
With shareholder backing secured, all eyes now turn to the court’s final approval and the imminent delisting of Infomedia shares.
Questions in the middle?
- Will the Supreme Court approve the scheme without conditions or delays?
- How will TPG Capital’s ownership influence Infomedia’s strategic direction?
- What are the detailed tax implications for shareholders following the ATO ruling?