Tangled web surrounds MAS Real Estate’s vote about boss

Business

Tangled web surrounds MAS Real Estate’s vote about boss

Decision on takeover deal will determine who takes over as CEO at the Eastern Europe-focused company

Alistair Anderson

A controversial vote about a takeover deal next Wednesday  will decide who will become CEO of JSE-listed Eastern Europe-focused property company MAS Real Estate (https://www.sharenet.co.za/v3/quickshare.php?scode=MSP).

The vote will decide if MAS will buy the 20% stake in an investment joint venture it has with development company Prime Kapital, an entity run by entrepreneur Martin Slabbert. In terms of the proposed deal, Slabbert would sell the 20% stake and become CEO of MAS. 

Some investors are asking how MAS would avoid conflicts of interest given that Slabbert already runs Prime Kapital, which sells assets to MAS.  Slabbert is the former head and founder of New Europe Property Investments (Nepi) (https://www.sharenet.co.za/v3/quickshare.php?scode=NRP)...

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