KBC Advanced Tech bids farewell to listing

KBC Advanced Technologies bid farewell to its listed status on Friday, as its board confirmed the cancellation of its shares from trading on AIM.

On Thursday, it announced that the proposed takeover offer from Yokogawa Electric Corporation had received court approval and was going ahead.

Shareholders were entitled to 210p in cash for each scheme share held under the all-cash acquisition.

The boards of both companies had reached agreement on the terms of the deal on 17 February.

Walton-on-Thames-based KBC Advanced Technologies provides consulting and software services to the energy and process industries, while Yokogawa Electrical Engineering is a Tokyo-headquartered electrical engineering and software company.