North American Income Trust to join FTSE 250 after JTC acquisition
(Alliance News) - The FTSE Russell on Monday said that North American Income Trust PLC will join the FTSE 250 on August 20, with JTC PLC set to leave the index following its acquisition.
JTC will be deleted from the index upon completion of its GBP2.7 billion acquisition by funds advised by Permira Advisers LLP and the Canada Pension Plan Investment Board.
JTC shareholders voted in favour of the deal, originally announced in November, back in January. The transaction values JTC shares at 1,340 pence each.
Shares in the Jersey-based professional services company will be suspended from trading on the London Stock Exchange's Main Market before the open on August 20.
In its place, North American Income Trust, the Edinburgh-headquartered financial services company, will be added to the FTSE 250 from the FTSE SmallCap Index.
JTC shares closed up 0.1% at 1,338.00 pence each in London, while North American Income Trust shares closed flat at 450.00 pence.
By John Robaina, Alliance News reporter
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