East European shopping centre owner Nepi Rockcastle is to distance itself from the Resilient group of companies. The company, which was formed by the merger of Romanian group Nepi and Polish-focused Rockcastle, has restructured its management team and board so that there are few links to its SA founders, who are associated with Resilient. Since merging in July last year to create a R95bn fund, Nepi Rockcastle’s board has been reconstituted so that its executive management now only consists of Romania-based professionals. Long-standing SA directors Spiro Noussis and Nick Matulovich are leaving the group at the end of 2018. The Romanian team led by CEO Alex Morar and CFO Mirela Covasa produced a strong set of results for the six months to June with Nepi Rockcastle growing its dividend nearly 13%, market analysts said on Wednesday.
Keillen Ndlovu, head of listed property funds at Stanlib, said it had been business as usual for the group and that a probe into the trading of its sh...
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