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New Deal


Announced

Safari withdraws proposed offer to acquire Fairvest.

Financials

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Transaction Value-
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EV/EBITDA-
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Tags

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property investment

Pending

Acquisition

Real Estate Services

South Africa

Public

Scheme

Single Bidder

Private Equity

Synopsis

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Fairvest Property Holdings and Safari Investments are pushing ahead with a "friendly merger" in a deal they say will save costs and result in a more efficient property portfolio. The real estate investment trusts first proposed the merger in March. Safari will acquire Fairvest through a scheme of arrangement, with shareholders receiving 0.45 Safari shares for each Fairvest share. A scheme requires the approval of shareholders representing 75% of a company's stock.

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