NEW YORK--(BUSINESS WIRE)--Macquarie Infrastructure Corporation (NYSE: MIC) today announced the approval of its proposed plan of merger at a Special Meeting of Shareholders of the Company conducted on May 6, 2021.
At the Special Meeting, shareholders voted overwhelmingly to approve a plan of merger that could result in the reorganization of the Company into a listed limited liability company treated as a partnership for tax purposes. The proposal received support from 99.6% (including abstentions) of the shareholders who voted.
The proposed reorganization is not expected to take effect until immediately prior to the closing of a sale of the Company’s Atlantic Aviation subsidiary. The Company currently expects to sell Atlantic Aviation in 2021 and to sell MIC Hawaii in 2022.
MIC has not entered into definitive agreements to sell any of its remaining operating businesses, and there can be no assurance as to whether, when or in what order any such agreement will be executed or that the reorganization will be completed.
MIC owns and operates businesses providing basic services to customers in the United States. Its businesses consist of an airport services business, Atlantic Aviation, and entities comprising an energy services, production and distribution segment, MIC Hawaii. For additional information, please visit the MIC website at www.macquarie.com/mic.
MIC is not an authorized deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia). The obligations of MIC do not represent deposits or other liabilities of Macquarie Bank Limited ABN 46 008 583 542 (MBL). MBL does not guarantee or otherwise provide assurance in respect of the obligations of MIC.
Jay A. Davis