Johannesburg - South African property fund Diversified (DIV) has bought 7.843 million linked units in Pangbourne Properties (PAP) for R126.4m.
Diversified said on Thursday that the acquisition was entered into for investment purposes and would have no material effect on its earnings.
Pangboourne is a listed loan stock company with a market capitalisation of R4.6bn.
At 9:33 on the JSE, shares in Pangbourne and Diversified were flat at R10.50 and R17.10 respectively.
- I-Net Bridge