Grit Real Estate Income Group Ltd - pan-African property investment and management - Says that it received a formal offer to acquire AnfaPlace Mall, one of its portfolio investments in Casablanca, Morocco.
Confirms that the pricing under discussion represents a small discount to the latest book value as at December 31, but notes that there is no certainty that the transaction will take place. The offer is set to expire on March 31.
Says that it is assessing its options and will provide further updates in due course.
Grit announced its plans to potentially dispose of its investment in AnfaPlace Mall in October, to reduce its retail sector exposure. It is targeting the sale of non-core assets of up to 20% of the value of its portfolio by December 2023.
Current stock price: 33.40 pence, down 5.9 % on Wednesday
12-month change: up 45%
By Abby Amoakuh; abbyamoakuh@alliancenews.com
Copyright 2022 Alliance News Limited. All Rights Reserved.
Grit Real Est. (GR1T)