NDS wraps privatisation plan

News Corp-owned NDS on Feb 5 wrapped up its final regulatory hurdle to de-list itself. All the formalities, including shareholder approval and final approval from the High Court of Justice in England and Wales have now been accomplished.

News Corporation and Permira Advisers LLP (Permira) had proposed to take NDS private in June 2008 at US$ 60.0 per share, which was subsequently raised to US$63.0 per share.

The proposed transaction was expected to be fully effective on February 5, 2009. The European stock price closed at 48.75 on February 4, following which the stock ceased to trade and was de-listed effective February 5.