KAP subsidiary in R14.775m land disposal deal

Posted On Thursday, 09 December 2010 02:00 Published by eProp Commercial Property News
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KAP International said that its Feltex Holdings has agreed to dispose portion of its property, in Killarney, Cape Town, to Steinhoff Properties for R14.775m.

KAP International Holdings said on Wednesday that its wholly owned subsidiary Feltex Holdings had entered into an agreement to dispose of a portion, measuring approximately 22,425 square metres of its property, situated in Killarney, Cape Town, to Steinhoff Properties for 14.775 million rand.

KAP is an investment company with a portfolio of diverse manufacturing businesses.

According KAP, "the portion of land in question is not being utilised, and the disposal is part of the group's ongoing drive to reduce debt by disposing of non-core assets."

Last modified on Wednesday, 15 January 2014 13:36

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