Fairvest Property Holdings Ltd. (JSE:FVT) entered into an agreement to acquire Rental Enterprise from Vilhas Property CC for ZAR 55 million on January 18, 2016. Under the terms of the agreement, the consideration of ZAR 4.5 million will be paid in cash and the balance will be settled by issue of shares of Fairvest Property Holdings Ltd. The transaction is subject to due diligence, approval by investment committee, Board of Directors of Fairvest Property Holdings Ltd and shareholders of Vilhas Property CC and is expected to close by May 1, 2016.

Fairvest Property Holdings Ltd. (JSE:FVT) cancelled the acquisition of Rental Enterprise from Vilhas Property CC on February 22, 2016.