New Europe Property Investments (Nepi) and Rockcastle Global Real Estate are set to retain their executive management teams when they merge into the largest property fund on the JSE. Analysts have lauded the decision to hold onto the two companies’ core management, with the Nepi Rockcastle entity set to be an extremely sizeable group that operates across Eastern Europe. The two companies released details about their merger through an abridged prospectus on Friday. Alexandru Morar, CEO of Nepi, and Spiro Noussis, CEO of Rockcastle, will be co-CEOs of the combined company, which is forecast to be worth R89bn. Nick Matulovich, the financial director of Rockcastle, will become an executive director of the merged entity. Mirela Covasa, Nepi’s chief financial officer, will become the chief financial officer of Nepi Rockcastle. The new group will be the largest property company in Eastern Europe and a member of the Euronext 100, which includes the largest, most liquid groups on the Euronex...

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