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Acucap buys asset manager for R15m

Posted On Tuesday, 21 September 2004 02:00 Published by eProp Commercial Property News
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Acucap, the listed property loan stock company, has bought the company that manages the assets of its property portfolio for R15.15 million in cash.

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The shares were acquired from four shareholders, of which Nedbank and Sanlam Property Asset Management are the largest, both holding 37.5 percent.

The acquisition was done because of the potential conflict of interest between the shareholders in Acucap and the management company. The management company had also fulfilled its purpose of procuring Acucap's listing two years ago and overseeing the establishment of asset management structures



Last modified on Monday, 12 May 2014 15:53

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