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Ontario Superior Court of Justice approves Agellan Commercial's buyout by Elad

Agellan Commercial REIT received a final order from the Ontario Superior Court of Justice approving the diversified real estate investment trust's proposed buyout by El-Ad Group Ltd. affiliate Elad Genesis LP for C$14.25 in cash per unit.

The Canada-based REIT's unit holders approved the deal at a recent special meeting.

The company expects the deal to close in February, subject to the satisfaction or waiver of all of the conditions to the transaction.