IFour gets nod for acquisitions

Posted On Wednesday, 17 September 2003 02:00 Published by eProp Commercial Property News
Rate this item
(0 votes)

Property loan stock company iFour Properties announced yesterday that its decision to acquire commercial, retail and office properties valued at R742m had been approved by the majority of the firm's shareholders.










In terms of one of the transactions, property loan stock giant Pangbourne Properties got a 49,9% stake in iFour. The deal would see Pangbourne selling to iFour about R250m worth of properties in return for about 50-million linked units in iFour, of which 7,5-million would be placed in other institutions.

Although the 49,9% stake would have normally triggered a takeover bid in terms of the Securities Regulation Panel, Pangbourne obtained permission not to have to make an offer.

Pangbourne also announced that the requisite majority of shareholders voted in favour of the resolution waiving the requirement to make a mandatory offer.


Last modified on Friday, 09 May 2014 22:16

Most Popular

Investec Property Fund launches first REIT sustainability-linked ESG bond in Africa

Apr 22, 2021
Investec Property Fund (‘IPF’ or ‘the Fund’) today became the first South African real…

EPP’s new app takes tenant relations to the next level

Apr 22, 2021
Johannesburg Stock Exchange listed EPP, Poland’s biggest retail landlord, continues to…

Rethinking office space in post pandemic SA

Apr 20, 2021
Since the beginning of the pandemic, one of the biggest questions in real estate has been…

4 simple rules to getting a good credit score

Apr 21, 2021
Make buying your dream home an informed purchase by knowing your credit score.

Brokers perceive recovery in industrial and retail market activity, but little sign of improvement in the office market

Apr 15, 2021
1st Quarter 2021 FNB Property Broker Survey of Rental Market Conditions – Brokers…

Please publish modules in offcanvas position.