Smart move

Finweek English Edition - - MARKETPLACE SIMON SAYS -

Vuk­ile has an­nounced the ac­qui­si­tion of a Span­ish real es­tate in­vest­ment trust that changes the face of the com­pany. At the last set of re­sults, for the year end­ing March, it had some 288 000m2 of space and this Span­ish ac­qui­si­tion adds 118 000m2. This means that al­most 30% of its space is now in Europe and earn­ing eu­ros. It is also in­ter­est­ing that it has en­tered the Western Euro­pean mar­ket rather than East­ern Europe, which is the trend we have seen. In a re­cent in­ter­view the CEO com­mented that as South Africa is an emerg­ing econ­omy – and so is East­ern Europe – Vuk­ile wanted to en­ter a de­vel­oped econ­omy to off­set emerg­ing mar­ket risk. I like that idea.

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