FDR: planned merger with Beni Stabili approved by board

(CercleFinance.com) - Foncière des Régions (FdR) has announced that its Board of Directors has unanimously approved of its proposed merger, with an exchange parity of 8.
5 FdR shares for 1,000 Beni Stabili shares, following the agreement of Beni Stabili's board on 24 May.

Both boards will meet by the end of July to approve the proposed merger agreement. The transaction will subsequently be submitted to extraordinary general meetings in September. The merger is expected to be completed by the end of the year.

"The merger will continue the transformation of Beni Stabili initiated two years ago, and confirms Foncière des Régions' investment strategy in Italy, focused on Milan and the development pipeline," the French group said.


Copyright (c) 2018 CercleFinance.com. All rights reserved.