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Vukile in bid to acquire Sanlam properties

Dec 31 2010 11:39
I-Net Bridge

Company Data

VUKILE PROPERTY FUND LIMITED [JSE:VKE]

Last traded 19
Change 0
% Change 1
Cumulative volume 485817
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

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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.


 

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