Acc-Ross gets BEE partner

March 9, 2006

Property group Acc-Ross lists on the JSE Alternative Exchange (AltX) in February 2006. Now they’re back in the news with an empowerment partner. With Jaco Verster, chief executive of Acc-Ross ...

STEPHEN GUNNION: Acc-Ross has formed a strategic partnership with the Abalengani Group of companies that owns upmarket property development assets - Acc-Ross is buying these for R210-million, and in turn has sold some assets back to Abalengani that will end up with a 10% stake in Acc-Ross. Jaco, can you explain how this deal works - it seems pretty complicated?

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