PFI shareholders back Director Property Fund merger

Mon, 24 Jun 2013

June 24 (BusinessDesk) - Shareholders in industrial property investor Property for Industry have thrown their support behind a merger with Direct Property Fund to create a commercial property empire worth $812 million. About 99.7 percent of PFI shareholders backed the merger resolution at a special meeting in Auckland today, and the two companies will now seek a court order ratifying the deal, they said in a statement. Some 99.9 percent of DPF investors supported the merger. “We are delighted with the strong show of support from our sharehol...

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