Business
Granite Real Estate Inc. Announces Court Approval of Proposed REIT Conversion
TORONTO, Nov. 20, 2012 /CNW/ - Granite Real Estate Inc. (TSX: GRT; NYSE: GRP) (''Granite'...
About this update from Granite Real Estate Investment Trust
[{"type":"text","content":"\n\n\n\n\n\nTORONTO, Nov. 20, 2012 /CNW/ - Granite Real Estate Inc. (TSX: GRT; NYSE: GRP) (''Granite'' or the ''Company'') announced today that the Superior Court\n of Quebec has issued a final order approving the previously announced\n plan of arrangement under which the Company plans to convert to a real\n estate investment trust (the \"REIT Conversion\").  The decision of the\n Court followed a hearing held today.  The Court found that the\n arrangement is fair and reasonable.\n\n\nSubject to satisfaction or waiver of certain other closing conditions,\n Granite expects the REIT Conversion to be completed on or about\n December 31, 2012.\n\n\nABOUT GRANITE\n\n\nGranite is a Canadian-based real estate company engaged in the ownership\n and management of predominantly industrial properties in Canada, the\n United States, Mexico and Europe. The Company owns and manages\n approximately 28 million square feet in 104 rental income properties.\n Our tenant base currently includes operating subsidiaries of Magna\n International Inc. as our largest tenants, together with tenants from\n other industries.\n\n\nOTHER INFORMATION\n\n\nCopies of financial data and other publicly filed documents are\n available through the internet on Canadian Securities Administrators'\n Systems for Electronic Document Analysis and Retrieval (SEDAR) which\n can be accessed at www.sedar.com and on the United States Securities and Exchange Commission's\n Electronic Data Gathering, Analysis and Retrieval System (EDGAR) which\n can be accessed at www.sec.gov. For further information about Granite, please see our website at www.graniterealestate.com.\n\n\nFORWARD-LOOKING STATEMENTS\n\n\nThis press release may contain statements that, to the extent they are\n not recitations of historical fact, constitute ''forward-looking\n statements'' within the meaning of applicable securities legislation,\n including the United States Securities Act of 1933 and the United\n States Securities Exchange Act of 1934. Forward-looking statements may\n include, among others, statements regarding the Company's future plans,\n goals, strategies, intentions, beliefs, estimates, costs, objectives,\n economic performance or expectations, or the assumptions underlying any\n of the foregoing. In particular, this press release contains\n forward-looking statements regarding our p...