SA Retail Properties Ltd (SRL) will proceed with the 995.8 million rand acquisition of 10 properties from a portfolio administered by Sharemax Investments (Pty) Ltd.
 
Announcing this in a detailed cautionary announcement following completion of due diligence on the 10 properties, SA Retail said the acquisition, which is subject to unitholder and regulatory approvals, will boost its asset base from 2.2 billion rand to more than 3.1 billion rand at an incremental cost of R8,597/m².
 
It will be settled by an issue of new SA Retail linked units in terms of a vendor placement, at a price to be finalised. The purchase price of one of the properties is under discussion and may be amended.
 
I-Net Bridge
Publisher: I-Net Bridge
Source: I-Net Bridge