Vunani Limited, based in South Africa, has sold a 100% stake in Vunani Property Asset Management to Texton Property Investments Ltd. for a US$12 million consideration.
Vunani Properties is a 78% owned subsidiary of Vunani Limited. However, Vunani Properties disposed of 100% of its listed property asset management business.
Texton Property Investments Ltd is an investment entity created to acquire the property asset management business of Vunani Limited.
Vunani Limited is a Black Economic Empowered investment company with strategic equity stakes in various businesses together with its own stock broking and asset management business.
Oaklins' team in South Africa acted in the capacity of designated advisor to Vunani Limited in this transaction.
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