Acucap Properties to become subsidiary of Growthpoint
Growthpoint (GRT) will acquire all the shares in Acucap (ACP) it does not already own‚ Acucap said on Friday, 12 December 2014.
The consideration would comprise a share exchange between Acucap shareholders and Growthpoint at an exchange ratio of 1.97 Growthpoint shares for each Acucap share held by Acucap shareholders‚ Acucap said in a statement.
Acucap would become a wholly owned subsidiary of Growthpoint‚ its listing on the JSE would be terminated and Growthpoint would indirectly own 100% of the shares in Sycom Property Fund Managers‚ the statutory fund manager of Sycom and‚ directly or indirectly‚ about 99% of the participatory interests in Sycom‚ the company said.
Source: I-Net Bridge
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