Redefine Buys Fountainhead Management Unit

April 18, 2012

On April 2, 2012, Business Report reported that property loan stock company Redefine had agreed to acquire the management company of Fountainhead Property Trust from Standard Bank Properties and Liberty Holdings.

On April 2, 2012, Business Report reported that Redefine had entered an agreement with Standard Bank Properties and Liberty Holdings to acquire the management company of Fountainhead Property Trust for R660 million.  The acquisition of the management company is subject to regulatory approvals of the Competition Commission, Financial Services Board, and the SA Reserve Bank.  Subject to the closing of the transaction and further due diligence, Redefine reportedly plans to make an offer to acquire Fountainhead’s R10 billion in assets and to exit from its 30% interest in Hyprop.  Redefine is a listed property loan stock company. Fountainhead is also a listed property company. 

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Investment Manager M&A, Transactions