Merger talks between the GCP Infrastructure and GCP Asset Backed Income (GABI) trusts, both managed by Gravis, have been terminated after a number of shareholders expressed opposition to the move.
In a stock exchange notice today (18 September), the GABI board said that the decision to terminate discussions came after a "significant minority of shareholders" said they were not supportive of the proposed merger. "Whilst the board negotiated, structured and proposed the scheme considering the best interests of shareholders, the board recognises the feedback received from certain shareholders. As a consequence, it is right that we cease our discussions with GCP Infra," said Alex Ohlsson, GABI chair. GABI and GCP Infra had also been having discussions with the RM Infrastructure t...
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