Investec prop deal unconditional

Posted On Monday, 22 October 2007 02:00 Published by eProp Commercial Property News
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Specialist banking group Investec (INP, INL) said on Thursday the disposal of the property fund management and property administration businesses of Investec Property Group Limited is now unconditional

Sam Leon Investec





The group announced in May that Investec Property Group had agreed to dispose of its property fund management business and its property administration business as a going concern to Growthpoint Properties Limited (GRT) subject to, inter alia, the granting of all regulatory approvals that might be required from various authorities, including the Competition Authorities.

It said the Competition Tribunal has now approved the above transaction subject to the removal of certain restraint terms and extension provisions in terms of which Growthpoint was restricted from entering into property development transactions and IPG from establishing a competing property administration and property asset management business.

"Accordingly, the transaction is now unconditional."

Last modified on Wednesday, 23 April 2014 10:21

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