Delta increases number of asset disposals to cut debt
Asset disposals and portfolio optimisation remain key turnaround objectives, says CEO Siyabonga Mbanjwa
07 November 2022 - 19:44
Delta Property Fund, a sovereign underpinned company, has increased the number of noncore assets to be disposed of in a bid to pay off debt and get the best out of its remaining portfolio.
For the financial year ended February, Delta said it had earmarked 26 properties for disposals with a market value of R787m. “We have revised this number to 37 properties valued at R877m — and already, one property has been transferred with the disposal progress gaining momentum,” CEO Siyabonga Mbanjwa told Business Day...
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