Managers stay on after Nepi and Rockcastle property merger
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...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.