SA Retail meeting approves R1 billion acquisition

Posted On Thursday, 05 April 2007 02:00 Published by
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The merger of SA Corporate Real Estate Fund and SA Retail Properties Ltd to create a R7 billion diversified fund moved a step closer today.










Peter Sparks, managing director of SA Retail, reported that at a general

meeting of SA Retail unitholders in Durban today, 98% of unitholders approved the acquisition of the R1 billion Sharemax portfolio of 10 retail properties.

The next step in the process is at the meeting on 12 April when SA Corporate unitholders meet. SA Corporate said last week it had support of unitholders representing 55% of its units to approve the SA Retail acquisition.

SA Corporate has also announced that its offer has the backing of 97% of
SA Retail unitholders.

Last modified on Thursday, 24 April 2014 20:27

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