Companies
Future of Ires Reit in jeopardy as shareholder battle escalates
In his first public comments on the dispute, the head of the largest shareholder in the property firm says his board will consider backing activist’s break up plan
The battle for the future of Ires Reit, the country’s biggest private landlord, hangs in the balance after its largest shareholder said it would consider proposals from an activist investor to break up and sell off the company.
Mark Kenney, chief executive of Capreit, the Canadian property fund which holds a near 20 per cent in the embattled firm, said the proposals being tabled by Vision Capital “merit careful consideration” by all investors.
