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Stor-Age to raise R400m to pay for acquisitions

16th February 2017

By: Anine Kilian

Contributing Editor Online

     

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JSE-listed Stor-Age will undertake a R400-million equity capital raise through an accelerated bookbuild process to settle the R328.77-million purchase consideration for two acquisitions.

The company in December announced it would acquire the entire issued share capital of Storage RSA, through its wholly-owned subsidiary Roeland Street Investments, as well as the shareholders’ loan claims against Storage RSA.

The Competition Commission has approved this transaction.

Stor-Age also announced the acquisition of 100% of the shares in, and shareholders' loan claims against, Units 1-4 Somerset West Business Park.

The bookbuild will open on February 20.
 

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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