Court Confirms Reduction of VT Group's Share Capital

8th Jul 2010 11:30

LONDON (Dow Jones)--VT Group PLC (VTG.LN), a British defence and services company, said Thursday the court confirmed the reduction of VT's share capital in connection with the scheme by which the recommended acquisition of VT by Babcock International Group PLC (BAB.LN), an engineering support services company, is being implemented. MAIN FACTS: -Listing of VT shares will be cancelled by 0700 am GMT on July 9. -Shares of VT at 1025 GMT unchanged at 795 pence, valuing the company at GBP1.44 billion. Shares of Babcock down 0.5 pence or 0.08%, at 618.5 pence, valuing the company at GBP1.42 billion. -By Tapan Panchal, Dow Jones Newswires. Tel +44(0)207-842 9448, [email protected] (END) Dow Jones Newswires July 08, 2010 06:30 ET (10:30 GMT)