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Covivio, Beni Stabili shareholders approve merger

Covivio and Beni Stabili SpA SIIQ shareholders approved the companies' proposed merger at separate extraordinary special meetings on Sept. 6 and Sept. 5, respectively.

The French diversified real estate investment trust will exchange 8.5 of its shares for each 1,000 Beni Stabili shares. The merger was approved by more than 99% of each company's votes.

At the meeting, shareholders also approved Covivio's name change from Foncière des Régions.