News Formal

Attacq inks R2.7bn deal with PIC for investment in Waterfall City

  • 📰 Fin24
  • ⏱ Reading Time:
  • 10 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 7%
  • Publisher: 63%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Property group Attacq said on Thursday it has inked a R2.7 billion deal with the Government Employees Pension Fund (GEPF) that will see state pensioners take a 30% stake in a subsidiary which owns Waterfall City.

The group intends on utilising the proceeds to settle R2.2 billion of debt in AWIC and about R500 million of debt in the rest of the group.

Upon implementation, the group expects the debt reduction to result in a decrease in its gearing from 38% to about 26.3%. Gearing refers to indebtedness, comparing debt to equity.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 21. in CA

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Joburg Property Company: Profiting off city propertiesGiven the trail of corruption allegations thus far against JPC, there is understandable concern about the scope for further malfeasance.
Source: TheCitizen_News - 🏆 6. / 75 Read more »