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.