Merger Alert: Emira Property Fund Ltd And Transcend Residential Property Fund

The Tribunal has approved, without conditions, the large merger whereby Emira Property Fund Ltd (“Emira”) intends to acquire all of the remaining shares in Transcend Residential Property Fund (“Transcend”). Upon the implementation of the proposed merger, Transcend will be owned and controlled by Emira.

Emira is a JSE-listed property investment fund. It invests in a diversified portfolio of commercial, industrial and retail assets in major South African metropolitan areas.

Transcend's primary business is the letting of residential property developments in the Western Cape and Gauteng. Transcend owns a portfolio of high-quality residential properties, servicing the low-to-middle income market.

Issued by:

Gillian de Gouveia, Communications Officer
On behalf of the Competition Tribunal of South Africa
Cell: +27 (0) 82 410 1195
E-Mail: GillianD@comptrib.co.za
Twitter: @comptrib