Granite Real Estate (TSE:GRT.UN) has released an update.
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Granite Real Estate Investment Trust has successfully transitioned from a stapled unit to a conventional REIT trust unit structure after receiving approval from unitholders and the Supreme Court of British Columbia. This strategic move simplifies Granite’s capital structure and ensures that each unitholder retains an equal number of REIT units as they held in stapled units, while Granite GP becomes a wholly-owned subsidiary.
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