Capital Property Fund and Fortress Income Fund merger gets tribunal approval

Posted On Monday, 12 October 2015 11:26 Published by
Rate this item
(0 votes)

Capital Property Fund and Fortress Income Fund merger gets tribunal approval.


Capital and Fortress are pleased to announce that the merger between Capital and Fortress, pursuant to the Fortress scheme, has been unconditionally approved by the Competition Tribunal.

Accordingly, the condition precedent relating to obtaining approval from the Competition Authorities has been fulfilled.

Fortress Income Fund made an offer to Capital Property Fund’s shareholders to take over the fund in July 2015. This would be the biggest property transaction of the year and the fund would be worth R44.5bn, make it the third-biggest SA-based fund by market capitalisation in the sector. 

Fortress Income Fund plans to keep the best assets and redevelop or sell underperforming offices.



Last modified on Saturday, 17 October 2015 08:04

Most Popular

Empowering women in engineering through B-BBEE

Jan 13, 2020
Andrew Yorke
Working to embrace the spirit of transformation and developmen.

Repo rate cut by 25 basis points

Jan 16, 2020
The Reserve Bank has reduced the repo rate by 25 basis points to 6.25% in line with…

Cheap cement imports crippling local industry

Jan 16, 2020
Databuild CEO Morag Evans
Local cement manufacturers are being severely undermined by cheap imports from countries…

Property in 2020 - here's what's happening

Jan 16, 2020
Carl Coetzee CEO of BetterBond
With the political, economic and social landscape in South Africa being what it is, i.e.…

The rising tide of the silver economy

Jan 16, 2020
Chris Cilliers
Whilst we may not yet have discovered the long-coveted elixir of eternal youth, the truth…

Please publish modules in offcanvas position.