MERGERS AND ACQUISITIONS
Cognition plans to buy Private Property
Transaction enhances Cognition's search for digital opportunities
Listed technology company Cognition Holdings, which has the well-known Kirsh family as one of its shareholders, plans to acquire Caxton's 50.01% interest in digital property portal Private Property, in a deal worth more than its market capitalisation. The R127m deal, which will see Cognition purchasing the stake from media group Caxton in exchange for 105.8-million new shares valued at R1.20 each, is part of Cognition's search for growth through the exploitation of opportunities in the digital economy. Cognition has a market cap of R124m at Monday’s share price of 90c. Private Property sells property-related digital advertising services on an online platform which enables property shoppers to search and find property listings, as well as property-related services such as bond origination services, insurance services and legal services.
The sale of Private Property in exchange for shares will increase Caxton’s interest in Cognition from 34.7% to more than 70%. As a result of ...
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.