Growthpoint Properties ZAR7.7 billion acquisition of Acucap Properties

Overview:

• South Africa's largest REIT Growthpoint Properties has acquired the remaining shares in Acucap Properties, that it did not already own, by way of a scheme of arrangement for ZAR7.7 billion.
• Acucap shareholders will receive 1.97 Growthpoint shares for every Acucap share they hold.
• Prior to the transaction, Growthpoint held 34.7% of Acucap’s shares which they purchased in 2014 for ZAR4.6 billion, along with a 31.5% stake in Sycom Property Fund. 

John Crabb - Journalist