Famous Brands Limited entered into an agreement to acquire Steers Properties Proprietary Limited And Halamandaris Props Proprietary Limited from Messrs Panagiotis Halamandaris, Periklis Halamandaris, Theofanis Halamandaris and John Lee Halamandres for ZAR 181 million.

Famous Brands Limited (JSE:FBR) entered into an agreement to acquire Steers Properties Proprietary Limited And Halamandaris Props Proprietary Limited from Messrs Panagiotis Halamandaris, Periklis Halamandaris, Theofanis Halamandaris and John Lee Halamandres for ZAR 181 million on October 11, 2022. Famous Brands will pay ZAR 166 million in relation to the Steers Shares and the Steers Claims, and ZAR 15 million in relation to the Halamandaris Props Shares and Halamandaris Props Claims. The transaction is subject to approvals from the relevant regulatory authorities, including, competition commission; and due diligence being completed to reasonable satisfaction of Famous Brands. ENSafrica acted as legal advisor to Famous Brands Limited.