Investment holding group Tradehold has completed its acquisition of the Collins Group, with the purchase of the company’s South African property portfolio, as well as its property development and management business, exposing Tradehold to property worth R7.8bn.The purchase price of R1.7bn, which represented the net asset value (NAV) of the company after debt, was settled with R38.2m in cash and through the issue of 57.7-million new Tradehold shares at R28.73 per share, with the final tranche of 47.2-million shares at a value of R1.35bn having been issued on Monday. The transaction was accretive from a NAV per share perspective.Tradehold announced its intention to purchase the Collins Group’s South African assets and its property development and management business in June last year. All conditions were met in December last year.This final element of Tradehold’s purchase of the Collins Group follows Tradehold’s acquisition of the Collins Group’s UK and African portfolios in a £28.2m ...
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