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28 May 2012

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Spain's Metrovacesa agrees to halt split from French Gecina ahead of today's AGM

Spain's struggling quoted property group Metrovacesa has announced it will accept a stop to the separation agreement with French REIT/SIIC Gecina, ending a long-running dispute between the two firms. In a related development, Gecina, embroiled in controversies over actions by its senior officers, also said the Paris Appeals Court has overturned a lower court ruling that had appointed a judicial officer to chair its AGM today, 15 June.

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