American Pacific Group, L.P. completed the acquisition of Spark Power Group Inc. from Red Jar Capital Corp. and Others.
The transaction is subject to approval by Spark Power shareholders, court approval and is unanimously approved by board of directors of Spark Power, having received unanimous recommendation from a special committee comprised solely of independent directors of Spark Power. As per the filling on November 10, 2023, Spark Power Group announced the special meeting of Shareholders scheduled to be held on December 1, 2023. As of December 1, 2023, shareholders of Spark Power approved the proposed plan of arrangement. The transaction is expected to close in December 2023. The Arrangement is expected to become effective on or about December 5, 2023, subject to, among other things, Spark Power obtaining a final order from the Ontario Superior Court of Justice and the satisfaction or waiver of certain other customary closing conditions.
MPA Morrison Park Advisors Inc. is acting as financial advisor as well as fairness opinion provider to the Special Committee. Kris Hanc of Bennett Jones LLP is acting as legal advisor to the Special Committee. John Lee, Khalfan Khalfan, Justin Parappally, Natasha vandenHoven, Ramandeep K. Grewal, Alethea Au and Jeilah Chan of Stikeman Elliott LLP and Joseph D.Hatina of Jones Day are acting as legal advisors to American Pacific Group. Grant McGlaughlin and Justine Connors of Fasken Martineau DuMoulin LLP acted as legal advisor to Red Jar Capital Corp.
American Pacific Group, L.P. completed the acquisition of Spark Power Group Inc. (TSX:SPG) from Red Jar Capital Corp. and Others on December 5, 2023. Spark Power obtained a final order from the Ontario Superior Court of Justice (Commercial List) approving the Arrangement on December 4, 2023.