Centro Properties Group shareholders are poised to approve the sale of the mall operator’s assets into a newly created entity and transfer shares in the new trust to its lenders.
Almost 51 percent of proxies voted in favor of a resolution to sell assets held by the group into a new trust that will combine all its funds into one, according to a regulatory filing. Almost 50 percent of proxies voted to transfer Centro Properties’ shares in the new trust to its senior lenders.
Centro Properties Chairman Paul Cooper said he would use the 10.1 percent of open votes he holds on the first resolution and the 10.3 percent of open votes he holds on the second resolution to support both.
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