Innovalues shareholders give nod to firm's takeover by Northstar

PRECISION machine parts maker Innovalues is set to be bought by private equity fund Northstar and delisted in March.

About 95 per cent of shareholders present and voting at a High Court-directed shareholders' meeting on Wednesday morning approved Northstar's acquisition of all the shares of Innovalues via a scheme of arrangement, Innovalues said in a Singapore Exchange filing.

It said the expected last day of trading in its shares is Feb 7 and the counter is expected to be delisted on March 17.