THE Folkestone-managed and listed Australian Education Trust (ASX: AEU) and the unlisted Folkestone Childcare Fund will go ahead with their merger.
Unitholders in FCF have overwhelmingly (98.24%) voted to accept an offer from AEU to acquire all their units in the fund.
The FCF units will be acquired for cash consideration of $16.9 million with settlement of the acquisition scheduled for the 16 December 2013.
FCF comprises 22 early learning centres located in Queensland and South Australia with a weighted average lease expiry of 8.3 years as at 30 June 2013.
Property Review
