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Granite Real Estate announces court approval of pproposed REIT conversion

Granite Real Estate announced that the Superior Court of Quebec has issued a final order approving the previously announced plan of arrangement under which the company plans to convert to a real estate investment trust. The decision of the Court followed a hearing held today. The Court found that the arrangement is fair and reasonable. Subject to satisfaction or waiver of certain other closing conditions, Granite expects the REIT Conversion to be completed on or about December 31.