Vision Real Estate Management moves up acquisition timetable
February 13, 2004
Vision Real Estate Management moves up acquisition timetable
Vision Real Estate Management and Development Inc. of Albany, N.Y., is ahead of schedule on the due diligence process for its purchase of six companies and expects the deal to be finalized sooner than the original closing date of April 25.
Under the name OM Companies, the six businesses operate Super 8 Motel and Golden Corral Restaurant franchises in Albany and Saratoga Springs and have other real estate holdings in those markets.
Once the stock deal closes, Vision Real Estate Management will reorganize, creating from its present assets a new subsidiary. The parent company will change its name to OM Companies Inc. Vision Real Estate Management, which currently trades on the OTC market under the symbol VRMD, also plans to apply to move its listing to the American Stock Exchange when the deal is finalized.
