valued at R254 million in transfer of ownership

Cognition Holdings buys into Private Property as co-owner with Caxton & CTP.

Real estate company Private Property, which is responsible for, has been valued at R254 million. In an evaluation that took place as Cognition Holdings bought its share in the company, Private Property is expected to earn R30 million in after-tax profit this year, despite only having R32.4 million in assets. 

JSE-listed technology company Cognition Holdings will be buying 50.1 percent of Private Property from listed media company Caxton & CTP, in an all-share deal that will make Cognition a subsidiary of current owners Caxton & CTP. 

They intend to buy it for R127 million, that will be settled entirely in shares, making Caxton a majority owner of Cognition. 

In an interview with Business Insider South Africa, Cognition CEO Mark Smith said: 

“Caxton will end up owning 72 percent of Cognition.”

Caxton currently owns 34.7 percent of the company. There will be no ultimate change of control and the remainder of Private Property is owned by a mixture of founders and estate agents who have bought into the company over time.