All for Joomla All for Webmasters

Dipula offers to buy out Reit SA Corporate in R9bn deal

0
Want create site? Find Free WordPress Themes and plugins.
Real estate investment trust (Reit) Dipula Income Fund has made an offer to acquire fellow Reit SA Corporate in an all-share deal valued at about R9-billion.

On a combined basis, Reit SA Corporate shareholders will own about 67% of the merged entity post the proposed transaction, with its shareholders to significantly benefit from a post-merger implementation value unlock.

Explaining the rationale for the merger in a statement on Friday, Dipula said it and Reit SA Corporate were both well regarded Reits.

“Separately, both companies are capable of delivering strong income and distribution growth over the medium to long term. The friendly merger will, however, effect a step change in the combined business, unlocking immediate shareholder value and positioning the entity for short-, medium- and longer-term benefits,” the company said.

The merged entity is expected to be firmly positioned as a JSE-listed midcap Reit of reference with a predominantly South African focus under strong, experienced management.

Did you find apk for android? You can find new Free Android Games and apps.
Share.

Leave A Reply