PROPERTY MARKETS
Attacq to sell Serbian and Cypriot investments to focus on Europe expansion
Capital growth fund Attacq has decided to sell its Serbian and Cypriot interests to Atterbury Europe to focus on its key investments. Attacq will use its investment in MAS Real Estate to build exposure in Europe instead. MAS owns shopping malls in Western Europe and recently spread into Eastern Europe. Attacq subsidiary AIH International Limited said it would dispose of its 48.75% equity shareholding and loan account in Atterbury Cyprus and its 25% equity shareholding and loan account in Atterbury Serbia, selling them to Atterbury Europe for an aggregate consideration of €93m (R1.33bn), which is payable in cash. Attacq holds a 37.32% stake in MAS Real Estate, which is listed on the JSE’s main board. "MAS has changed its investment focus to include Central and Eastern Europe and is increasing its exposure to this region via its joint ventures with Prime Kapital. This now positions MAS well to be Attacq’s primary entry point into these markets," said Attacq CEO Morné Wilken.
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.