trending Market Intelligence /marketintelligence/en/news-insights/trending/LC_n63rYmyAr-9uwJ6Jp4A2 content esgSubNav
Log in to other products

 /


Looking for more?

Contact Us
In This List

Ascension, Rebosis move ahead with proposed acquisition

Blog

Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage

Blog

Corporate Credit Risk Trends in Developing Markets: A Loss Given Default (LGD) Perspective

Blog

Real Estate News & Analysis: May Edition

Blog

Corporate Credit Risk Trends in Developing Markets: A Probability of Default Perspective


Ascension, Rebosis move ahead with proposed acquisition

Rebosis Property Fund Ltd. and Ascension Properties Ltd. agreed to proceed with a proposed takeover through the exchange of A shares following the completion of outstanding conditions precedent to the scheme.

Rebosis plans to acquire all Ascension A shares by exchanging it with its own ordinary A shares. The exchange ratio is 19.34236 Rebosis A ordinary consideration shares for every 100 Ascension A shares held. The last day of listing for Ascension A shares and the start of trading in Rebosis A ordinary consideration shares on the Johannesburg bourse will take place April 19, according to a schedule released Feb. 14.

The proposal by Rebosis to acquire all of Ascension's ordinary A shares was first unveiled in a joint announcement made Oct. 27, 2016. By then, Ascension was already a listed subsidiary of Rebosis after the latter acquired and delisted Ascension B shares Aug. 17, 2015.