Vector takes full control of NGC

Lines company Vector has completed its takeover of NGC Holdings, mopping up all the remaining shares held by straggler NGC shareholders.

Vector has taken control of all outstanding NGC shares held by shareholders who did not respond to either Vector's original offer or its compulsory acquisition notice.

NGC is holding in trust the Vector shares and cash representing the offer price for the 2.9 million outstanding NGC shares. Later this week, NGC will send out a form to the 975 former shareholders which will enable them to claim money owing.

Vector bought a 67 per cent stake in NGC in October last year. In June it launched a bid for the rest of the company, which it valued at $1.51 billion.