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Singapore-listed Frasers wins backing for $2.4 bln Australand takeover
August 7, 2014 / 9:12 AM / 3 years ago

Singapore-listed Frasers wins backing for $2.4 bln Australand takeover

SYDNEY, Aug 7 (Reuters) - Singapore-listed Frasers Centrepoint Ltd will buy Australia’s Australand Property Group for A$2.6 billion ($2.41 billion) after securing shareholder approval late on Thursday.

In a statement to the Australian Securities Exchange, Frasers said Australand investors with 56.8 percent of its shares supported the offer, just over the 50 percent backing it needed. (1 US dollar = 1.0789 Australian dollar) (Reporting by Byron Kaye; Editing by Ryan Woo)

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