Macquarie Infra to split into solids and diceys

Macquarie Infrastructure Group will split into a risky group and a less risky group and they will be separately listed on the Australian Stock Exchange. A statement from MIG says: "Today the Independent Directors of MIG unanimously recommend that MIG security holders approve the Restructure Proposal by voting in favour of the required resolutions.  MIG notes that the Independent Expert, Ernst & Young Transaction Advisory Services Limited, considers that the Restructure Proposal is in the best interests of MIG security holders."

They detail the proposal here:

http://www.macquarie.com.au/au/mig/news.htm?20091218_0

MORE TOMORROW

TOLLROADSnews 2009-12-17