Paraprop sells stake in BEE deal

April 10, 2006

JSE-listed Paramount Property Fund (Paraprop) will sell a 26 percent stake to a consortium of black partners led by listed Mvelaphanda Group (Mvela), Paraprop announced on Monday...

The deal will involve the issue of a new category of shares to a new company owned 75 percent by Mvela and 25 percent by a broad-based BEE partner.

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