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Hospitality Property Fund Ltd's Subsidiary Announces Sale Agreement With Savana Property (Pty) Ltd


Wednesday, 17 Apr 2013 06:43am EDT 

Hospitality Property Fund Ltd announced that with reference to the earlier announcement, to the effect that HPF Properties (Pty) Ltd a wholly owned subsidiary of Hospitality, had entered into a Sale Agreement with Savana Property (Pty) Ltd (Savana or the seller) on December 14, 2012 to acquire a 78.2% share of Radisson Blu Gautrain and 53 parking bays for a combined purchase consideration of ZAR346.745 million. Propco has subsequently cancelled the Sale Agreement and has entered into a new sale agreement dated April 9, 2013 with Savana, to acquire 100% of the Radisson Blu Gautrain for a total purchase consideration of ZAR443,385 million. 

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