Vukile Property Fund (VKE) has made a firm offer to acquire the remaining 25% stake in MICC Property Income Fund (MCP) that it does not already own.

It is offfering 862 cents per linked unit for the remaining stake in MICC.

It plans to delist MICC once the deal is concluded.

ApexHi Properties, which holds about 23.64% of MICC, has already undertaken to accept the offer.