Toll road operator Macquarie Infrastructure (ASX:MIG) yesterday announced plans to spin-off some investments into a new listed entry to be known as Macquarie Atlas Roads Group.
Under the proposal, the Atlas group will have as subsidiaries Australian company Macquarie Atlas Roads Limited, and Bermuda company Macquarie Atlas Roads International.
Shares from both subsidiaries will be issued to Macquarie Infrastructure shareholders on a 1:5 basis.
A meeting will be held tomorrow to vote on the proposal.
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