TransForce presses on with restructuring plan
MONTREAL — TransForce Income Fund unitholders will vote next month whether to convert Canada’s largest holder of trucking assets from an income fund to a corporation.
As TodaysTrucking.com reported earlier this year, changes to federal income trust rules has prompted the company to abandon its income trust status.
The Québec Superior Court issued an interim order, calling an annual and special meeting of unitholders to vote on the reorganization.
The meetings will be held in Laval, Que. on May 12 and 20th.
The reorganization is subject to required court and regulatory approvals and approval and needs at least 66.6 percent of the votes cast by unitholders of the Fund and the same by shareholders of TFI Holdings Inc.
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