Redefine Buys Pivotal to Add 13 Billion Rand of Property Assets

  • South Africa’s second-largest REIT agrees to share swap
  • Pivotal had to reconsider future in a stagnating economy

Redefine Properties Ltd., South Africa’s second-largest real estate investment trust, agreed to buy Pivotal Fund Ltd., valued at about 6.1 billion rand ($425 million), in a share swap. 

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