INVESTORS in Lend Lease Primelife have voted in favour of Lend Lease's $191 million takeover.
Yesterday the majority of Primelife investors voted to the remaining securities for 35 cents per security.
All security holders will receive this consideration even if they did not vote or voted against the proposal.
Lend Lease CEO Steve McCann said this acquisition consolidates Lend Lease’s position in the senior living sector, a sector identified as a growth opportunity for the group.
“Our focus will now be on enhancing Primelife’s position in owning, operating and developing product for the senior living sector.
“We believe that Primelife will operate more effectively as part of the broader Lend Lease Group, where it is not subject to the capital constraints faced by Primelife as a listed entity,” he concluded.
Propertyreview.com.au
