IProp Holdings to delist from JSE and be wound up.
Move follows management buy-out by Clidet.
Mettle makes rival offer for iProp.
Investment holding company Mettle has announced a R92,6m offer for the assets and liabilities of land development group iProp.
Buyout will lead to iProp winding up.
Property group iProp will disappear entirely if the R83,9m (550c a share) management buyout proposal announced yesterday goes through.
Petro Heydenrych: CEO, IProp
MONEYWEB: Welcome to Petro Heydenrych, the chief executive of Iprop –financial results out today for the year to end-September. But you can’t really read to much into these results, Petro, because the company has changed so in the past financial year. Just explain to us – at a board level what made you take the decision to sell off your portfolio and then to move more aggressively into property development?
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