The Tribunal has unconditionally approved the large merger whereby Vukile Property Fund Limited (“Vukile”) intends to acquire the rental enterprise known as Pan Africa Shopping Centre (“target property”) as well as its future expansion.
 
The primary acquiring firm, Vukile, is a property holding firm listed on the Johannesburg Securities Exchange and the Namibian Stock Exchange. It owns a portfolio of retail letting enterprises in South Africa.
 
The target property is controlled by Pan African Development Company (Pty) Ltd (“PanDev”). It is a lettable retail shopping centre located in Alexandra, Johannesburg.