Accelerate Property jumps on deal to sell European property portfolio
Shares up as much as 13% on news it will be selling its retail centres in Austria and Slovakia
22 November 2021 - 13:28
UPDATED 22 November 2021 - 19:26
Shares of Accelerate Property Fund jumped the most in 10 days on Monday after it said it had inked an €87.4m (R1.55bn) deal to sell its European property portfolio.
The proceeds of the sale of the nine retail stores in Austria and Slovakia will be applied to its R6bn debt pile, a move the landlord expects will help it regain the market’s confidence...
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