« Johncom walks away from OpCo talks | Main | Charter compliance simultaneously providing Sasol with growth opportunity »

October 26, 2007

Benefit now, pay later - Redefine has been praised for tagging a 15% discount on its recently announced R548m black economic empowerment (BEE) transaction

Listed property fund Redefine has been praised for tagging a 15% discount on its recently announced R548m black economic empowerment (BEE) transaction. The discount gives the impression of a cheap transaction - until one takes a closer look.

Preliminary details show extraordinary rights for financiers Rand Merchant Bank (RMB) and Standard Bank, and to Redefine itself. These include overhanging profit-sharing rights and a significant portion of the upside during and beyond the life of the transaction.

Read More

Posted by StaffWriter at October 26, 2007 11:51 AM