After the transaction, Encha will own a R600m stake in Vukile — representing a holding of about 7.5% in Vukile’s enlarged unit capital LISTED property loan stock company Vukile Property Fund said on Tuesday that it had concluded an agreement with Encha Properties in what it termed "one of the most significant black economic empowerment (BEE) initiatives in the listed property sector to date".Vukile said it would acquire a portfolio of five investment-grade, predominantly national government-tenanted properties from Encha for about R1.4bn.After the transaction, Encha will own a R600m stake in Vukile — representing a holding of about 7.5% in Vukile’s enlarged unit capital."For the purposes of the Property Sector Charter, this will represent an approximate 25% holding in Vukile, after adjusting for mandated investments," Vukile said.The properties in the portfolio comprise Navarre Wachthuis, the Koedoe Arcade and De Bruyn Park in Pretoria, the Pretoria Momentum building and the Bloemfo...
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