Rebosis Property Fund is in 'no rush' to decide on a full takeover of the company after a three-way merger collapsed.

Wednesday, 25 June 2014 13:08

Tripartite merger not opportune

Delta and Rebosis Property Fund ("Rebosis")(together"the Funds") today jointly announced the amicable conclusion of merger talks and the settlement of their bid for the linked units and assets of Ascension Properties Limited ("Ascension").

Rebosis Property Fund ("Rebosis") that it has acquired Delta Property Fund's ("Delta") entire holding of linked units in Ascension Properties Limited ("Ascension").

Thursday, 22 May 2014 18:30

Merged property funds would have muscle

Proposed 3-way merger between Rebosis,Delta and Ascension will create the first sizable black-managed property portfolio to rank among the R280bn listed property sector's top 10 companies in terms of size.

Sandile Nomvete's Delta Property Fund brings the first outright African real estate offering to the JSE market next month.

Delta's full year provisional results outperform market guidance and reveal a year of exceptional growth

Rebosis Property Fund continues the property sector's better than expected earnings streak.

Rebosis Property Fund reports a 9.0% rise in its distribution per linked unit to 48.5c for the six months ended February 2014 from 44.5c in the year-earlier period. 

2014 has confirmed that the listed property sector is moving from a cycle of new listings, into one of consolidation.

The R250bn listed property sector, one of the JSE's most active in terms of merger, acquisition and listing activity in recent years, saw deal flow surge a whopping 60% last year.

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