The High Court in Wellington has today approved the takeover of Z Energy by Australian petroleum company Ampol.
Photo: RNZ
Z Energy said trading in the company's shares would be suspended from Thursday.
It said the takeover was subject to remaining customary conditions being met or waived by the scheme of arrangement with Ampol, by or on the implementation date which was set for 10 May.
Z shares will be delisted from the NZX and ASX at the close of trading on the implementation date.
Holders of Z shares on the scheme record date, 3 May, will be entitled to receive $3.78 per Z share in cash.
Those who do not want to take part in the scheme must sell their shares before the close of trading on Thursday, Z said.
The High Court approval was the last big hurdle in Ampol's takeover of Z, which has also been approved by shareholders, the Commerce Commission and the Overseas Investment Office.
The deal is valued at close to $2 billion.
