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Australia: Novion $11 billion merger clears hurdle

By  |  April 15, 2015

The proposed $11 billion merger between Novion Properties and Federation Centres has cleared another hurdle with shareholders set to vote on the plan on Wednesday, May 27, in Sydney.

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    Late on Tuesday the Supreme Court of NSW granted Novion’s board approval to convene the extraordinary meeting to vote on the planned deal, and instructed that scheme of arrangement booklets be sent to shareholders on April 21.

    The merged group will own and manage 102 malls, from Chadstone, Emporium and The Glen in Melbourne, centres across Perth and Chatswood in Sydney.

     

    Full Content: The Sydney Morning Herald

     

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