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Growthpoint proposes R250m empowerment deal

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Growthpoint will allocate shares to a special-purpose CSI Trust, which will use dividends from its Growthpoint shares to fund initiatives

Growthpoint Properties, a bellwether of SA’s commercial real-estate market, has proposed a R250m broad-based black economic empowerment ownership scheme to help fund initiatives focused on education, entrepreneurship and enterprise development.

The proposed transaction would see Growthpoint allocate shares to a special-purpose corporate social investment trust, which would use dividends from its Growthpoint shares to fund the initiatives. ..A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and TimesLive Premium.

 

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