Deals
RMB Holdings Buys Atterbury to Enter S. African Property Market
- Company seeks to diversify earnings away from banking
- Buys 25% in developer of southern Africa's biggest mall
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RMB Holdings Ltd., which owns a stake in South Africa’s largest bank by market value, agreed to buy 25 percent of Atterbury Property Holdings Ltd. as part of a plan to expand into real estate and diversify earnings.
RMB Holdings, known as RMH, will provide capital and “long-term focus to expand Atterbury and assist in executing on its development pipeline and broader growth ambitions,” the Johannesburg-based investment company said in a statement on Tuesday, without disclosing the value of the transaction.