Promotora de Informaciones SA shareholders approved the plan to merge with Liberty Acquisition Holdings Corp., Prisa said in an press press release.

Liberty shareholders will receive stakes collectively amounting to more than 50 percent of Prisa in exchange for about 650 million euros ($861 million) in cash, the company said.

Shareholders of New York-based Liberty, led by Nicolas Berggruen and Martin Franklin, approved the deal Nov. 24.

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