April 11, 2018 / 5:28 AM / 2 months ago

BRIEF-Colonial And Axiare Approve Terms Of Merger

April 11 (Reuters) - INMOBILIARIA COLONIAL SOCIMI SA :

* SAID ON TUESDAY BOARDS OF COLONIAL AND AXIARE HAVE APPROVED COMMON DRAFT OF TERMS OF MERGER BETWEEN COLONIAL AS THE ABSORBING COMPANY AND AXIARE AS THE ABSORBED COMPANY

* MERGER WILL ENTAIL DISSOLUTION OF AXIARE WITHOUT LIQUIDATION WITH TRANSFER OF ALL ITS ASSETS TO COLONIAL

* EXCHANGE RATIO OF MERGER IS 1.8554 SHARE OF COLONIAL AT 2.50 EUROS PER SHARE FOR EACH AXIARE SHARE OF 10 EUROS PER SHARE

* JP MORGAN SECURITIES CONSIDERS THE EXCHANGE RATIO FAIR TO COLONIAL FROM A FINANCIAL POINT OF VIEW, CREDIT SUISSE CONSIDERS THE EXCHANGE RATIO FINANCIALLY REASONABLE FOR AXIARE’S SHAREHOLDERS

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Further company coverage: (Gdynia Newsroom)

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