Property fund says it will receive R3.35bn from Ulricraft in revised transaction
Rebosis Property Fund, founded by Sisa Ngebulana about a decade ago, will receive half of the R6.3bn it was looking to raise from selling its office portfolio to reduce debt after revising the original deal with potential buyer, Ulricraft Proprietary.
Rebosis said on Friday it would receive R3.35bn in cash from Ulricraft in a revised transaction that excludes the sale of 11 properties which formed part of the initial plan. ..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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