Benson Elliot Real Estate Partners V-B, L.P. and Benson Elliot Real Estate Partners V, L.P. managed by PineBridge Benson Elliot LLP entered into an agreement to acquire Sigma Capital Group plc (AIM:SGM) from a group of shareholders for approximately £180 million on June 11, 2021. Under the terms of the transaction, all shares will be acquired for £2.02 per share. The cash consideration payable pursuant to the acquisition will be financed by a combination of direct and/or indirect capital contributions from investment funds managed by PineBridge Benson Elliot. PineBridge has received irrevocable undertakings and letters of intent in respect of, in aggregate, 54.7 million Sigma shares, representing approximately 61% of the existing issued ordinary share capital of Sigma. PineBridge intends to support the existing management of Sigma in delivering their current strategy. Post-completion, PineBridge envisages that Sigma would continue to operate materially in the same way without significant disruption to either the PineBridge Benson Elliot or Sigma businesses. The scheme is conditional upon approval at the court meeting, approval from 75% of scheme shareholders. The Independent Sigma Directors recommend the scheme unanimously to shareholders. As of June 29, 2021, the meeting of shareholders of Sigma Capital Group plc is scheduled to take place on July 23, 2021. As of July 23, 2021, shareholders of Sigma Capital Group plc have approved the transaction. The scheme remains subject to the sanction by the Court at the Court Hearing, which is expected to take place on August 5, 2021, and the satisfaction or (where applicable) waiver of the other conditions set out in the scheme. As of August 5, 2021, the High Court of Justice in England and Wales made an order sanctioning the scheme under section 899 of the Companies Act 2006. The scheme remains conditional on, and will become effective upon, the delivery of a copy of the Court Order to the Registrar of Companies, which is expected to occur on August 9, 2021. A request has been made for Sigma Shares to be suspended from dealings on AIM not later than August 9, 2021. The scheme is expected to become effective in Q3 of the calendar year 2021. The long stop date for the effectiveness of transaction is December 13, 2021. Peter Everest and Amit Thakkar of N M Rothschild & Sons Limited and Sandy Fraser and Rachel Hayes of Singer Capital Markets Advisory LLP acted as financial advisors to Sigma Capital. Federico Montero, Tiarnan O'Rourke and Tariq Ennaji of Evercore Partners International LLP acted as financial advisors and Paul Hastings (Europe) LLP acted as legal advisor to PineBridge Benson Elliot. Dentons UK and Middle East LLP acted as legal advisor to Sigma.