Cape Times

Aveng and Collins in JV


NEDBANK Corporate and Investment Banking (NCIB) has concluded an estimated R1.14 billion loan facility to finance the joint venture between Durban-based commercial property developmen­t and investment company Collins and listed constructi­on and engineerin­g group Aveng. Aveng sold 70 percent of Dimopoint, a special purpose vehicle it had created to house 35 of its properties, following a private tender arrangemen­t to the Collins Property Group for R1.127bn in a sale and leaseback transactio­n. NCIB’s Brad Maxwell said yesterday that NCIB acted as investment bank and corporate adviser to Aveng. Aveng shares listed on the JSE fell by 2.91 percent to R5. – Roy Cokayne

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