The Superior Court of Québec has issued a final order approving the previously announced plan of arrangement under which LKQ Corp. will acquire Uni-Select.

LKQ will acquire all of Uni-Select’s issued and outstanding shares for C$48.00 per share in cash, representing a total enterprise value of approximately C$2.8 billion.

The deal, first announced on Feb 27, is expected to generate approximately $55 million in run-rate cost synergies and incremental revenue upside opportunities.

The arrangement remains subject to certain closing conditions, including the receipt of applicable regulatory approvals, consisting of approval under the Competition Act (Canada) and the Investment Canada Act, clearance under the U.S. Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and clearance by the U.K. Competition and Markets Authority. If the necessary approvals are obtained and the other conditions to closing are satisfied or waived, it is anticipated that the arrangement will be completed in the second half of 2023.