The debt-laden group is valued at only R196m on the JSE, and would be left as a retail focused fund
Rebosis Property Fund, whose debt has eroded 98% of its market value over the past five years, has inked a R6.32bn deal that would see it sell its mostly government-let commercial portfolio to a vehicle wholly-owned by Vunani Capital Partners.
Valued at only R196m on the JSE, Rebosis, led by founder Sisa Ngebulana, owns a mix of shopping malls and offices, and is currently struggling under a R9.4bn debt pile...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
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