UPDATE 1-Stronach set to give up control of real estate firm


* Stronach in deal to give up super voting shares of MID * Stronach will exchange his control for racing assets * Shareholders Farallon, Greenlight expected to back deal * Shares of MID rise 4.4 percent on the NYSE (Adds details, adds byline) By Emily Chasan 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 two sources familiar with the matter. ...

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