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Australia's Fairfax shareholders vote to spin-off property classifieds unit
November 2, 2017 / 12:03 AM / 16 days ago

Australia's Fairfax shareholders vote to spin-off property classifieds unit

Nov 2 (Reuters) - Australian newspaper publisher Fairfax Media said on Thursday its shareholders agreed to a plan to spin off its real estate classifieds unit, Domain Holdings Australia Ltd, into a standalone listed company.

The resolution on the Domain separation from Fairfax Media “received overwhelming support from shareholders,” the Sydney Morning Herald and Australian Financial Review publisher said in a statement.

The company added that it expected Domain to start trading on the Australian Securities Exchange on Nov. 16.

Reporting by Christina Martin in Bengaluru; Additional reporting by Ambar Warrick; Editing by Byron Kaye and Richard Pullin

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