Recruitment giant Adecco has completed its acquisition of technical recruiter Spring Group.

In a statement,  Spring said that “all approvals necessary in connection with the offer have now been obtained from the European Commission and the Turkish Competition Authority. Accordingly, Spring is pleased to announce that on 19 October 2009, the Court sanctioned the scheme and confirmed the associated Capital Reduction required to effect the recommended acquisition of Spring by Adecco UK Holdco (BidCo), a wholly-owned subsidiary of Adecco S.A. (Adecco).” 

The statement adds” “Dealings in Spring shares on the London Stock Exchange were suspended with effect from 7.30am (London time) today, 19 October. It is expected that the Scheme will become Effective on 20 October 2009 and that the cancellation of the admission to trading of Spring shares on the LSE’s main market for listed securities and the admission of the Spring Shares on the Official List will in each case take place at 8am (London time) on 21 October 2009.

“Upon completion of the acquisition, holders of Spring Shares will be entitled to receive 62p for each Spring share held at the scheme Record Time (6pm [London time]) on 16 October 2009).”