Summary
Real Brokerage has received final court approval in connection with its proposed acquisition of RE/MAX Holdings. The companies expect the transaction to close Aug. 24, subject to the satisfaction or waiver of remaining closing conditions.
The transaction is now expected to close Monday, August 24, subject to remaining closing conditions.
The Real Brokerage has received final court approval in connection with its proposed acquisition of RE/MAX Holdings, moving the transaction another step closer to completion.
The Supreme Court of British Columbia granted the final order in connection with the arrangement portion of the transaction, Real and RE/MAX Holdings announced Friday.
The arrangement is one component of the transaction contemplated under the companies’ previously announced merger agreement.
Securityholders of Real and stockholders of RE/MAX Holdings previously approved the proposed acquisition at their respective special meetings on August 14.
Subject to the satisfaction or waiver of any remaining closing conditions, the companies said they expect the transaction to close on August 24.
Real operates a technology-powered real estate brokerage and says it currently supports more than 36,000 agents across all 50 states and Canada. The company also provides mortgage and closing services.
RE/MAX Holdings is the parent company of RE/MAX and franchises real estate brokerages around the world under the REMAX brand. The company says the RE/MAX network includes more than 145,000 agents in nearly 8,500 offices across more than 120 countries and territories.
RE/MAX Holdings also franchises mortgage brokerages in the United States under the Motto Mortgage brand.
The companies announced their definitive agreement on April 27. Under the transaction, Real will acquire RE/MAX Holdings and the combined company will operate as Real REMAX Group.
The companies have said REMAX and Motto Mortgage will continue operating under their existing brands following closing, while Real will continue operating as an owned brokerage under the Real brand.
The transaction has not yet formally closed.
Real and RE/MAX Holdings said Friday that completion remains subject to the satisfaction or waiver of remaining closing conditions. If those conditions are met, the companies currently expect the transaction to close Monday, August 24.
WRE News will continue following the transaction through its expected completion.
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