Capital and Pangbourne conclude all terms in deal

Posted On Monday, 14 March 2011 02:00 Published by eProp Commercial Property News
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Capital Property Fund and Pangbourne Properties have brought to finality all outstanding conditions relating to their tie-up deal.

Capital Property Fund

 

 

 

 

 

 

 

Accordingly, Pangbourne's linked units will be suspended on the JSE from March 28.

Capital will buy the whole of Pangbourne. The all-unit consideration would entail Pangbourne unitholders swapping their linked units in Pangbourne for units in Capital at a swap ratio of 2.38 Capital units for each Pangbourne unit.

Capital has a portfolio of rental properties in the industrial, office and retail space, while Pangbourne holds various rentable properties including industrial space, office space and retail space.

The deal is set to be one of the largest property funds in SA, by market capitalisation, differentiated by its industrial and commercial focus.

Last modified on Saturday, 05 March 2016 02:48

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