Hyprop continues to reduce its sub-Saharan Africa exposure
JSE-listed Hyprop Investments and AttAfrica have concluded an agreement to dispose of their interests in the Manda Hill shopping centre, in Zambia, to Growthpoint Investec African Properties.
The shopping centre was owned by Hyprop Investment’s 37.5%-held Mauritius subsidiary.
Hyprop’s share of the disposal proceeds will be used to settle a portion of its dollar denominated debt.
Hyprop is also in discussions with several parties regarding the disposal of the remaining African shopping malls in which it has an interest.
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