Tox Free Solutions Limited (“Toxfree”) notes that the Australian Competition and Consumer Commission (“ACCC”) today decided not to oppose the proposed acquisition by Cleanaway Waste Management Limited (“Cleanaway”) of 100% of the ordinary shares in Toxfree via its wholly-owned subsidiary, Cleanaway (No. 1) Pty Ltd (“BidCo”), pursuant to the previously announced scheme of arrangement (the “Scheme”).
As a result, Toxfree confirms that the Competition Approval condition under clause 3.1(c) of the Scheme Implementation Deed between Toxfree, Cleanaway and BidCo has been satisfied.
The Scheme remains subject to a number of conditions, including the approval of Toxfree shareholders and the Federal Court of Australia.
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