JSE-listed Dipula Properties has agreed to acquire a portfolio of shopping centres from Moolman Group and its co-investors in a R2-billion transaction that is accretive from day one and advances the company’s focused growth strategy.
The transaction strengthens the company’s national retail presence and enhances portfolio diversification, adding nine assets across four provinces.
It also brings Dipula’s acquisitions over the past 12 months to 14 assets bought for R3-billion, as the company continues to execute its strategy of disciplined, targeted, value-accretive growth.
Concurrently, Dipula has completed a private placement, securing subscription commitments of R1.1-billion in new equity.
The new Dipula shares are expected to be listed and start trading on the JSE on September 1.
