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Australia: Federation/Novion $22 billion merger to get green light

By  |  May 26, 2015

The $22 billion planned merger between Novion Property and Federation Centres, which will create the second largest retail real estate investment trust in the country, is expected to be approved without a hitch.

Approval will also bring the full reincarnation of the former Centro Properties, which was the foundation for Federation.

Under the merger scheme, Novion shareholders must vote in Sydney in Wednesday to accept a scrip offer from Federation.

Last week the Australian Competition and Consumer Commission said it would not oppose the deal. The merged group will own and manage 102 malls.

 

Full content: Financial Review

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