The Competition Tribunal has unconditionally approved JSE-listed real estate investment trust Emira Property Fund’s proposed buyout of Transcend Residential Property.
Upon the implementation of the proposed merger, Transcend will be owned and controlled by Emira.
Emira is invested 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 and it owns a portfolio of high-quality residential properties, servicing the low- to middle-income market.