MAS looks to sell some European assets
The group says it will continue aggressively rolling out its acquisition and development pipeline
MAS Real Estate is finally in a position to sell some of its high-quality assets in Europe and continue to deliver strong dividend growth, says newly appointed CEO Morné Wilken. The group, which on Monday released financial results for the six months to December, declared a dividend of 3.58 euro cents per share, representing an increase of 34.6% over the comparative period in the previous financial year. One of the brains behind Waterfall City in Midrand and the former CEO of Attacq, Wilken — who joined MAS in January — said MAS was looking to sell some assets in western Europe in order to raise capital, which could be redeployed to fund a €400m pipeline across the continent. "We are being offered extremely attractive prices for some of our western European assets and it’s a great time to sell," Wilken said. "This enables us to make substantial acquisitions within the next six to 12 months." MAS’s east European partner is Prime Kapital, run by Martin Slabbert and Victor Semionov. It...