Now a subsidiary, Chariot will cease trading on the ASX from tomorrow.
SP Telemedia (ASX:SOT), owners of the TPG Soul Group, has completed the compulsory acquisition of Chariot Limited (ASX:CTI).
SP in June bought up a 95 percent stake of Chariot. Under Australian law, any company which owns more than 90 percent of a class of shares in a company can compulsorily acquire the remaining shares.
Due to the acquisition, Chariot will cease trading on the ASX at the close of business today.