Fibra Macquarie Secures Shareholder Backing for Terrafina Takeover

Mexican real estate investment trust Fibra Macquarie has gained shareholder approval for its takeover of competitor Terrafina. The acquisition will involve the issuance of up to 1.2 billion of Fibra Macquarie's own REIT certificates. The move was approved by a majority in a meeting representing 75% of the shareholders.

Mexican real estate investment trust Fibra Macquarie has received the green light from its shareholders to proceed with its acquisition of competitor Terrafina. The announcement was made in a filing to Mexico's stock exchange on Monday.

The acquisition, which will take the form of one or two tender offers, was approved by a majority of shareholders in a meeting that represented 75% of total shareholders. The deal includes the purchase of 100% of Terrafina's REIT certificates and the issuance of up to 1.2 billion new certificates by Fibra Macquarie.

This consolidation is expected to bolster Fibra Macquarie's portfolio, positioning them as a stronger player in the Mexican real estate market.

(With inputs from agencies.)