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Beni Stabili shareholders to vote on Foncière des Régions' buyout proposal

Italian office real estate investment trust Beni Stabili SpA SIIQ scheduled a Sept. 5 special meeting for its shareholders to vote on the company's proposed merger with Foncière des Régions.

The French diversified REIT offered to buy out Beni Stabili at a ratio of 8.5 of its shares per 1,000 of the Italian company's shares. Foncière des Régions already owns 52.4% of Beni Stabili.

Foncière des Régions said earlier that if approved, the merger will close by the end of 2018.