Stronach set to give up control of real estate firm

Newswire

NEW YORK, Dec 21 (Reuters) - Canadian billionaire Frank Stronach is set to give up control of his real estate company, MI Developments , in a new deal with shareholders, according to people familiar with the matter. Stronach, who holds a controlling voting stake in the company, is prepared to exchange his control of the $800 million real estate development company for some of its horse racing track assets, these people said. The deal which will swap his special voting shares in the ...

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