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Delta Property Fund Ltd Announces Acquisition Of Letting Enterprises And Properties

Wednesday, 31 Jul 2013 03:20am EDT 

Delta Property Fund Ltd announced that it has entered into an agreement with the owners of Phamog Properties Proprietary Limited (Phamog) for the purchase of the entire issued share capital of Phamog (the Acquisition). Phamog is the owner of the following property and letting enterprises commonly known as; Phamoko Towers, situated at 37 Church Street, Polokwane, Limpopo and Temo Towers, situated at 67 Biccard Street, Polokwane, Limpopo. Pursuant to the Acquisition, the Properties will be transferred to Delta. The total purchase consideration for the Acquisition is ZAR377,500,000. The effective date of the Acquisition which is expected to be on or about September 1, 2013.