Johannesburg - Shareholders of Emira Property Fund have overwhelmingly approved a transaction that will see 5% of the REIT’s shares in issue being held by strategic black partners.
Emira is a medium-cap diversified JSE-listed Real Estate Investment Trust (REIT) invested in office, retail and industrial properties. Its assets comprise 142 properties valued at R13.3bn. Emira is also internationally diversified through its direct interest in the Australian Securities Exchange (ASX) listed GOZ, valued at R940.4m.
Geoff Jennett, CEO of Emira, describes the BEE transaction as strategic, sustainable and commercial.