The Competition Tribunal has unconditionally approved the deal in which Dipula Property Fund will acquire Asakhe Realty Investment Fund.

Dipula is controlled by Redefine Properties, the JSE's second largest property fund, while Asakhe is owned by Standard Bank Properties and Safika Holdings.

Meanwhile, the Competition Commission had earlier considered the merger and concluded it was unlikely to lessen competition. It therefore recommended that the tribunal approve the merger without conditions.