Vukile Property Fund: Synergy acquisition talks called off

Comment on this story

VUKILE has withdrawn from acquisition discussions with listed Synergy Income Fund. Laurence Rapp, Vukile’s chief executive, which acquired 49 percent of Synergy’s B-linked units in December, said it had been unable to agree on terms with the board of Synergy. “While we remain of the view that Vukile and Synergy unitholders would benefit from consolidation, we will only pursue a transaction which, based on the underlying property fundamentals and pricing, is appropriate and enhancing to our unitholders.” He admitted in May that Synergy would be a tremendous addition to the Vukile portfolio, but said Vukile was concerned about the pricing of Synergy units. Vukile units rose 10c to R17.10 yesterday. Synergy B-linked units fell 3.18 percent to R7 and A-linked units were flat at R11.51. – Roy Cokayne


sign up
 
 

Comment Guidelines



  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.