Rebosis Property Fund says the JSE has granted it an extension to finalise the preparation and review of pro forma financial information for the sale of its rental assets.
Rebosis is a JSE-listed real estate investment trust with a high quality diversified portfolio of commercial and retail assets, including Baywest Mall in Gqeberha and Forest Hill City in Centurion. The transaction aggregate cash consideration is R6.32bn and the sale portfolio comprises government and state-tenanted office assets.
Rebosis said the transaction is consistent with the company’s strategy to deleverage and optimise its balance sheet by reducing its loan-to-value, to realise the value of the office segment of its portfolio, to restructure the business as a retail focused fund and to position the company to resume dividend payments to shareholders.
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