After the approvals of the shareholders of both companies, is opened a period that will conclude with the termination of Axiare and the transfer of its assets in block to Colonial. The shareholders of Colonial have also given their approval to the execution of a capital increase of Inmobiliaria Colonial, SOCIMI, through the issue of a maximum of 19,273,622 ordinary shares to meet the merger exchange and host the Axiare shareholders in Colonial's capital. Each Axiare shareholder will receive 1,8554 Colonial shares for each Axiare share.
With these final steps ends an operation that began in November 2017 with the announcement of OPA by Colonial and that is expected to culminate, after the last mercantile transactions, during the third quarter of 2018.
Now, the shareholders of Axiare must give their approval at their Ordinary General Meeting.