https://www.engineeringnews.co.za

Hyprop, Attacq restructure African Land buyout

Pieter Prinsloo

Pieter Prinsloo

Photo by Duane Daws

17th July 2014

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

Font size: - +

The investment structure of real estate investment company African Land Investments has been restructured, resulting in Hyprop Investments and Atterbury Africa each holding a 50% stake in the 44 000 m2 Zambia-based Manda Hill shopping centre, African Land’s only asset.

Hyprop and capital growth fund Attacq last year injected R768-million and R110-million respectively to gain respective shares of 87% and 12.4% in African Land. Atterbury Africa CEO Kevin Teeroovengadum holds the remaining 0.6%.

African Land had now been integrated into Atterbury Africa, a joint venture (JV) between Hyprop, Attacq and Atterbury Group, to “create a stronger entity” with a broader depth of skills and to allow Atterbury Africa to capitalise on the “full spectrum of the value chain” from greenfield to brownfield projects.

“The JV partnership is well experienced and has the ability to successfully develop, acquire and manage quality shopping centres in the rest of Africa,” said Hyprop CEO Pieter Prinsloo on Thursday.

Atterbury Africa planned to target, based on acceptable investment risk, ownership in dominant shopping centres in large cities across sub-Saharan Africa, excluding South Africa.

“Atterbury Africa is well placed to become a leading shopping centre fund across Africa and this restructure is a further step in expanding Hyprop’s African presence,” Prinsloo noted.

The restructure remained subject to approval by the South African Reserve Bank.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
Aqs image
AQS Liquid Transfer

AxFlow AQS Liquid Transfer (Pty) Ltd is an Importer and Distributor of Pumps in Southern Africa

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.179 0.24s - 150pq - 2rq
Subscribe Now