Tradehold, the JSE-listed property holding company, had acquired Timothy Vaughan’s minority interests in Reward Investments and Moorgarth Holdings (MHLS) with effect from 18 July 2014, it said on Monday.

Tradehold made this acquisition because it wants to hold all the issued shares in Reward and MHLS.

The property investor is keen to acquire all the minority interests in Reward and increase its holding in MHLS in order to simplify Tradehold’s group structure and better align Vaughan’s incentives with his role as joint CEO of Tradehold.

After the acquisition of Vaughan’s shares in Reward and MHLS, Tradehold will control 100 percent of the shares in Reward (up from 90 percent). It will also own 95 percent of MHLS, 10 percent higher than its initial 85 percent stake.

The deal is subject to certain conditions and regulatory approval from the competition authority in South Africa and other areas where the companies have operations. The issue by Tradehold to Vaughan of the Vaughan Shares also requires approval from the shareholders of Tradehold.