Safari Investments receives US$130.13m buyout offer from Comprop

SOUTH AFRICA – Johannesburg Stock Exchange mall owner, Safari Investments has received a US$130.13m (R1.8bn) buyout offer from unlisted Community Property Company (Comprop). The offer comes at a time when Fairvest and Safari are preparing for a “friendly merger”, which the duo announced in March that would create a company with US$433.76 million (R6bn) worth of assets. Comprop has offered Safari’s shareholders R5.90 (US$0.43) per share, a hefty 38.5% premium compared to Friday’s closing price of R4.22 (US$ 0.31) and could mean an end to Safari’s proposed merger with peer…

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