Will a private group recapitalise Delta in exchange for a controlling stake?
Interim CEO Bongi Masinga says the firm needs to change its capital structure and restructure its funding
Delta Property Fund, the listed real-estate investment trust (Reit) that gets 80% of its annual revenue from government tenants, is in a fight for its future.
It is drowning in debt and needs to sell assets quickly so that it can raise cash to see it through the rest of 2021. The group’s current liabilities exceed its assets by R4.1bn. ..