By Adria Calatayud

Vantage Towers AG said Tuesday that it will apply for a delisting of its shares from the Frankfurt Stock Exchange as a takeover offer by Oak Holdings GmbH launched in November is due to be completed Wednesday.

Oak Holdings is a joint venture formed by Vantage shareholder Vodafone Group PLC and a consortium of KKR & Co. and Global Infrastructure Partners LLC.

Vantage said it has entered into a delisting agreement with Oak under which outstanding shareholders in the German telecommunications-infrastructure company will be offered 32 euros ($34.31) a share, valuing the target at EUR16.2 billion.

Write to Adria Calatayud at adria.calatayud@dowjones.com

(END) Dow Jones Newswires

March 21, 2023 03:10 ET (07:10 GMT)

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