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Delta to sell four properties at below market value

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Former executives have denied any wrongdoing and have said they were making way for new leadership to drive a turnaround

Delta Property Fund, which has a mostly government tenant base, is selling four properties for just under two-thirds of their market value from a few months ago as it looks to cut its debt load.

The properties, three of which are in Bloemfontein and one in Kimberley, will be sold for R98.8m next month despite their market value of R150.9m in February 2022...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

 

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Delta to sell four properties at below market valueFormer executives have denied any wrongdoing and have said they were making way for new leadership to drive a turnaround Why?
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