BRIEF-Vukile Property Announces Disposal Of Remaining Non-Retail Property Assets For R700 Mln

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BRIEF-Vukile Property Announces Disposal Of Remaining Non-Retail Property Assets For R700 Mln
Credit: © Reuters.

Nov 28 (Reuters) - Vukile Property Fund Ltd VKEJ.J :

* DISPOSAL OF REMAINING NON-RETAIL PROPERTY ASSETS

* PROPOSED DEAL FOR R700 MILLION

* BALANCE OF PURCHASE CONSIDERATION OF R100 MILLION WILL BE FUNDED BY WAY OF A MBAKO CASH EQUITY CONTRIBUTION

* MBAKO HAS SOURCED DEBT FUNDING FROM RAND MERCHANT BANK OF R600 MILLION WHICH WILL BE IN FORM OF A FOUR-YEAR TERM LOAN FOR DEAL

* R125 OF DEBT FUNDING WILL BE GUARANTEED BY CO

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