Alpha Group International plc (LON:ALPH) has today provided an update on the progress of its proposed acquisition by Corpay Inc.
Alpha and Corpay announced that they have received approval from the FCA, the MFSA and the Italian FDI Authority.
While the completion of the Acquisition is subject to the satisfaction (or, if waivable, the waiver) of the remaining Conditions set forth in the Scheme Document, Alpha and Corpay now expect to complete the Acquisition in late October 2025.
The Court hearing is scheduled for October 28, 2025. Subject to the satisfaction (or as the case may be, waiver) of the remaining Conditions, the Acquisition Effective Date is expected to be October 31, 2025.
The proposed Effective Date has been changed from 2 Business Days after the Court Hearing to 3 Business Days after the Court Hearing so that the Effective Date can be the last day of the month, ie 31 October 2025.
On 23 July 2025, the boards of directors of Alpha and Corpay jointly announced that they had reached an agreement on the terms of a proposed acquisition under which Corpay would acquire all of the issued and to be issued ordinary share capital of Alpha, to be effected through a Court-approved scheme of arrangement pursuant to Part 26 of the Companies Act20.
Under the terms of the takeover, each Alpha Shareholder will be entitled to receive 4,250 pence in cash for each Alpha share.
The Acquisition Price values the entire issued and to be issued common share capital of Alpha at approximately £1,805 million.
On September 2, 2025, Alpha Group shareholders approved the proposed deal.