PSG Group invests $50m in local property business Amdec

South Africa’s PSG Group spent R675-million ($50.77-million) for a 50% stake in Evergreen Lifestyle, part of local property business Amdec, as it eyes expansion into the lucrative retirement property sector, the companies said on Tuesday. "Our investment mandate is to invest in and work with businesses that show high growth potential," said Nico de Waal, chief executive of PSG Alpha, a unit of PSG Group.