10 Jul 2012

Retirement village merger approved by OIO

12:18 pm on 10 July 2012

Metlifecare says its deal to buy and merge with Vision Senior Living and Private Life Care has been approved by the Overseas Investment Office.

The retirement village operator says the merger has now satisfied all conditions except for completion of a selldown by Retirement Villages Group, its majority shareholder.

Metlifecare was forced to revise the planned $87 million takeover acquisition for a third time to get the deal approved by shareholders last month.