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AusGroup says proposed swap deal with Ezion approved

AUSGROUP said on Thursday it has obtained approval from shareholders and regulatory authorities for the proposed swap deal with Ezion Holdings which will see AusGroup's debt owed to Ezion being exchanged for AusGroup's shares.

The mainboard-listed offshore and marine company said that the approval conditions have been satisfied, and the settlement of the exchange offer and completion of the Ezion loan capitalisation will take place on Friday.