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Johannesburg - Hyprop Investments [JSE:HYP] on Friday said that its unitholders had approved the R8.986bn acquisition of Attfund Retail.
"Unitholders today approved all of the resolutions in respect of the proposed acquisition of Attfund Retail by the requisite majorities. With the R9bn acquisition of Attfund Retail, Hyprop is now closer to finalising the single largest acquisition in the company's history," it said in a statement.
Hyprop CEO Pieter Prinsloo said he anticipated the deal to be earnings neutral for the remainder of 2011, and enhancing thereafter.
Attfund Retail's centre management and corporate management teams would join Hyprop on the effective date and good progress had been made to ensure their smooth integration into the group, Hyprop said.
The appointment of Attfund founders Louis Norval and Louis van der Watt as non-executive directors was also approved at the annual general meeting.
"Unitholders today approved all of the resolutions in respect of the proposed acquisition of Attfund Retail by the requisite majorities. With the R9bn acquisition of Attfund Retail, Hyprop is now closer to finalising the single largest acquisition in the company's history," it said in a statement.
Hyprop CEO Pieter Prinsloo said he anticipated the deal to be earnings neutral for the remainder of 2011, and enhancing thereafter.
Attfund Retail's centre management and corporate management teams would join Hyprop on the effective date and good progress had been made to ensure their smooth integration into the group, Hyprop said.
The appointment of Attfund founders Louis Norval and Louis van der Watt as non-executive directors was also approved at the annual general meeting.
