Rebosis Property Fund Ltd Proposes Acquisition Of Sunnypark Shopping Centre

Thursday, 15 Nov 2012 06:52am EST 

Rebosis Property Fund Ltd announced that it has concluded an agreement for the acquisition of a letting enterprise in respect of and including a property known as the Sunnypark Shopping Centre from the Centre of the Sun Properties (Proprietary) Limited. The purchase consideration payable by Rebosis for the property is ZAR572.9 million. Payment of the purchase consideration will be settled in cash. If the property is not transferred by March 1, 2013 (Escalation Date), the purchase consideration for the Sunnypark acquisition will be increased by 0.6458% (compounded monthly in arrears) up to and including the date of transfer and will be prorated for that portion of the month during which transfer is effected. 

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