Affirming its prudent and patient approach to deal making, Vukile Property Fund today announced it has successfully gained control of Synergy Property Fund.
Vukile increases its strategic stake in Synergy, and will offer to acquire Synergy's full capital in issue
Collapse of yet another proposed multibillion rand merger in the R300bn listed property sector raises renewed questions on whether consolidation is necessarily in shareholders' best interests.
Vukile Property Fund today announced it had withdrawn from acquisition discussions with Synergy Income Fund.
Synergy Income Fund today announced full year distribution growth of 5% for its A linked unitholders and 12% for its B linked unitholders for the year to 30 June 2014.
JSE's listed property sector has not managed to maintain its run of the past few years of beating the broader all share index.
Synergy Income Fund's A and B units have been among the listed property index's top performers since the beginning of the year, with both having risen nearly 20%.
Vukile Property Fund's CEO Laurence Rapp says the company has rebased its portfolio and that it will match the listed property sector's performance in the near future.
Synergy Income Fund announced that it will be refurbishing its retail asset, Ruimsig Shopping Centre in Roodepoort, Gauteng.
Synergy Income Fund today announced half year distribution growth of 5% for its A linked unitholders and 11.3% for its B linked unitholders for the six-month interim period to 31 December 2013.
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