Atlas Arteria (ASX:ALX) said IFM Global Infrastructure Fund subsidiary Diamond Infraco 1 has satisfied the European Union Foreign Subsidies Regulation approval condition for its takeover offer, fulfilling the regulatory approvals condition, according to a Tuesday filing with the Australian bourse.
The bidder has waived several additional offer conditions under the Corporations Act, including requirements for regulatory approvals, concession-grantor clearances, change-of-control consents, and protections relating to material adverse changes, per the filing.
The offer now remains subject only to a reduced set of conditions, including no market fall, no distributions, conduct of business, no prescribed occurrences, and no specified authorizations or agreements, the filing said.
The bidder currently holds a 34.56% voting interest in the company, the filing added.