Apollo Commercial Real Estate Finance, Inc. (NYSE: ARI) shareholders approved the company’s liquidation and dissolution on September 29, advancing a wind-down that follows the mortgage REIT’s April sale of its loan portfolio and subsequent review of strategic alternatives.
The proposal received approximately 72.2 million votes in favor, 799,088 against and 439,400 abstentions. About 57.1% of outstanding shares were represented at the special meeting, with support accounting for roughly 98.3% of those represented.
The approval shifts the company’s focus to completing asset dispositions, settling obligations and distributing remaining assets to shareholders. Under the liquidation plan, the board will…