SA Corporate buys 25% in Namibia-based Oryx

Posted On Wednesday, 24 October 2007 02:00 Published by eProp Commercial Property News
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SA Corporate Real Estate Fund has bought a 25% stake in Oryx Properties

Craig EwinProperty group SA Corporate Real Estate Fund (SAC) has bought a 25% stake in Oryx Properties, the second-biggest primary listing in the Namibian Stock Exchange, it said on 

Wednesday.

The acquisition would be funded by the issue of 43.1 million shares to vendors but SA Corporate did not did disclose the price offer.

The deal forms part of the strategy agreed on last in August to invest up 5% of the portfolio value in property assets elsewhere in Africa.

"The opportunity to invest in Oryx arose recently and matched these criteria perfectly. The deal, which will be earnings neutral for SA Corporate in year one, provides a platform for further expansion into Africa," said Craig Ewin, CEO of SA Corporate.

Oryx holds a N$727 million portfolio of 19 Namibian properties.

Last modified on Wednesday, 23 April 2014 09:37

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