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Sandon Capital acquires remaining stake in Mercantile Investment

Australia's Sandon Capital Investments Ltd. completed the compulsory acquisition of the remaining shares it did not own in Mercantile Investment Co. Ltd.

The move raised Sandon Capital's stake in Mercantile Investment to 100% from 93.97%.

The compulsory acquisition followed the completion in September of Sandon Capital's takeover offer for a 100% stake in Mercantile Investment. Under the compulsory acquisition procedure, Mercantile Investment shareholders were offered 0.2043 Sandon Capital share for every Mercantile Investment share.