Pangbourne in R125m BEE deal

October 11, 2005

Property group Pangbourne Properties has agreed to sell a 6.15 percent stake in the company to a black economic empowerment partner, Yard Capital, for a total of R125-million, the group announced on Tuesday...

The deal represented the first stage of its transformation strategy, Pangbourne said, and had been structured to ensure that it was non-earnings dilutionary for existing holders of its combined units.

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