Rebosis Property Fund, which has been offloading assets to cut debt and win back investor support, says it will sell its 49.4% stake in UK mall owner New Frontier Properties for just R700.
Rebosis said it would sell its New Frontier stake, held via seven of its subsidiaries, for a total consideration of R700, or R100 per subsidiary. The buyers are Edwin Henry Dednam and Orion Hotels & Resorts . In 2015, Rebosis bought 62% of New Frontier for R1.2bn. Rebosis was listed by CEO Sisa Ngebulana eight years ago.
Yeah I too think its per share
R700?
R700? Is that a typo guys?