Texton acquires Vunani Asset Management business

Texton acquires Vunani Asset Management business
Rob Keane - Pic from www.financialmail.co.za
Published: 21 January 2014
Vunani Property Investment Fund (VPIF), an office dominated JSE-listed property fund announced that both its unitholders and board have approved the sale of the asset management business from Vunani Property Asset Management Proprietary Limited to Texton Property Investments Proprietary Limited at a meeting held in Johannesburg on 16 January, 2014.

A new REIT compliant Memorandum of Incorporation was also approved at the same meeting.

"We are pleased to have received such an overwhelming vote of confidence from our unitholders," said Rob Kane, CEO of VPIF.

"We look forward to the positive impact that this deal will have on our current business strategy and objectives. The incoming shareholders bring significant experience and knowledge to the business. We remain committed to creating stakeholder wealth in the fund and as such believe this injection of skills lays a solid platform for us to do this."

Rob Kane will remain CEO and Marelise de Lange, CFO. Angelique de Rauville, Gerard de Rauville, Chick Legh and Thys van Heerden will bolster the management team with their many years of experience and knowledge of the sector. In addition, two senior executives have recently been appointed which will give the fund a very robust management team.
- Propertyinvestorafrica I David A. Steynberg
Tags: Vunani,

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