Monday, November 23, 2009

Macarthurcook Reit shareholders approve rescue by AMP

Shareholders of Macarthurcook Industrial Trust approved a rescue package that means a group of investors led by Australia’s AMP will buy new shares in the firm at a heavy discount, said a source who attended an extraordinary general meeting of the Reit on Monday.

The rescue package had been opposed by Cambridge Industrial Trust, a Singapore real estate investment trust which owns nearly 10 per cent of Macarthurcook. Cambridge is managed by a unit of National Australia Bank.

Source: Business Times, 23 Nov 2009

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