CBS Canterbury (CBS) shareholders have approved a proposed merger with Southern Cross Building Society (SCBS) and Marac, the subsidiary of Pyne Gould Corp.The approval is the latest of a number being sought this week. On Monday Southern Cross Building Soc
CBS Canterbury (CBS) shareholders have approved a proposed merger with Southern Cross Building Society (SCBS) and Marac, the subsidiary of Pyne Gould Corp.
The approval is the latest of a number being sought this week. On Monday Southern Cross Building Society shareholders gave approval but a second meeting of depositers is being held. A special meeting of Pyne Gould shareholders and a special meeting of CBS Canterbury depositors will be held on Friday. The merger is expected to happen on January 7.
CBS shareholders voted 90.45 percent in favour.
