The agreement is subject to ABN AMRO Private Equity finalising due diligence and the negotiation of mutually satisfactory contractual arrangements between the parties and between News and its major customers and suppliers.
Due to the size of the transaction, the sale and purchase agreement relating to News will be conditional on the approval of the shareholders of WHSmith. Following the signing of that agreement, WHSmith will despatch a circular to shareholders to convene an extraordinary general meeting to seek their approval.
