Delta International Property Holdings acquires Vodacom Building and Zimpeto Square In Maputo

Posted On Friday, 17 April 2015 10:03 Published by
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Delta International Property Holdings to raise R515 million in capital to acquire Vodacom Building and Zimpeto Square In Maputo. 

Vodacom Building  is a landmark building in Maputo and located in the new downtown business node. The property has a GLA of 10,660 square metres covering 14 floors plus 5 levels of basement parking. 

Zimpeto Square is a shopping centre located 13km north of the CBD of Maputo. The property has a GLA of 4,764 square metres covering 2 floors and an outdoor parking area.

The acquisition of Vodacom Building and Zimpeto Square constitute an undertaking in the ordinary course of business of Delta International. 

The company announced a private placement of approximately 26 million new ordinary shares to raise up to approximately ZAR515 million (approximately US$43 million) through the issue of new ordinary shares on 15 April 2015.

The proceeds of this Placement will be utilised to fund the acquisition of the Vodacom Building, Zimpeto Square and to retire a portion of debt associated with the completed acquisition of the Hollard Building, all of which are located in Maputo, Mozambique.

The Company has placed 26 354 444 new ordinary shares with investors at ZAR18.00 per share raising approximately ZAR474 million (approximately US$39 million). 

Parent company, Delta Property Fund Limited, also provided financial assistance to the tune of R177m in order to enable Delta International to continue with the purchase transaction of the Vodacom building.

Last modified on Monday, 20 April 2015 22:27

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