Johannesburg - Vukile Property Fund [JSE:VKE] said on Friday that it had notified Sanlam Life Insurance of its interest in acquiring properties from it valued at about R500m.
The announcement follows the expiry of the call option the company had entered into with Sanlam, dated November 26 2009.
Further to the first option exercise notice, Sanlam Life is to provide Vukile with a value for the option assets based on their internal valuation methodologies and the value provided by an independent valuer.
The valuation will be the proposed purchase consideration for the option assets.