Listed investment company Blackstar Group SE (BCK) announced on Monday that its unit, Blackstar Real Estate (BRE) had entered into an agreement to purchase a commercial property in Midrand, Gauteng for R58 million.
The property would be held through a new property holding company (Newco) with BRE owning 70% of the ordinary shares and Litha Healthcare Group owning 30% of the ordinary shares of Newco.
The property would be occupied by Litha and would provide operating space for a large portion of Litha's operations within Gauteng.
Simultaneously with the property transaction, Newco had entered into a triple net lease agreement with Litha Medical (Pty) Limited, a major operating subsidiary of Litha.
