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BPOPF in the middle as RDC pursues PrimeTime

Friday, May 31, 2024 | 760 Views |

Landmark: Pilane Crossing is one of PrimeTime’s retail assets

The Botswana Public Officers Pension Fund (BPOPF) will play a decisive role as RDC Properties advances plans to acquire PrimeTime Property Holdings in what could become a rare hostile takeover in the local listed market.

The BPOPF, which is the country’s largest pension fund, held 38.8% of RDC Properties as at December, being the single largest shareholder. The pension fund also held nearly 33% of PrimeTime as at August last year, being the largest shareholder as well.

“The pension fund wields the power in the deal and in fact, will play the role of a kingmaker,” an analyst told BusinessWeek.

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