May 8 (Reuters) - Canadream Corp CDN.V
* Canadream corporation enters into arrangement agreement to be taken private by Apollo Tourism & Leisure Ltd.
* Appointed a special independent committee of company's board of directors
* Special independent committee to review and evaluate arrangement
* Based on recommendation of special committee, board has unanimously approved arrangement agreement
* Consideration paid under arrangement is in cash
* Under deal terms agreement, purchaser agreed to purchase all other outstanding canadream shares for consideration of $1.85 per share
* Upon completion of arrangement, it is expected that canadream shares will be de-listed from TSX venture exchange
* Purchaser to buy canadream shares controlled by Blaine Nicholson and CEO Brian Gronberg for consideration of $1.68 per share
* Directors holding about 39% of outstanding co's shares entered into support deals under which each agreed to vote shares in favour of arrangement Source text for Eikon: ID:nCCN9hxjNj Further company coverage: CDN.V