.
MergerLinks Header Logo

New Deal


Announced

Grit Real Estate to acquire a majority stake in Gateway Real Estate Africa.

Synopsis

Grit Real Estate, a pan-African impact real estate company, agreed to acquire a majority stake in Gateway Real Estate Africa, a property developer. Financial terms were not disclosed. “We are pleased to announce today the acquisition of a majority controlling interest in APDM and to agree amendments to the sale and purchase agreements that set out a clear path for Grit to purchase a controlling shareholding in GREA by December 2022. These are expected to contribute meaningfully to Grit delivering enhanced profitable growth and superior returns to our shareholders, through GREA’s extensive attractive pipeline of accretive development opportunities and for Grit to capitalise on new fee income streams through APDM’s substantial development and asset management fees. We also expect to deliver additional value to our shareholders from the potential optimisation of the balance sheets of Grit and GREA," Bronwyn Knight, Grit CEO.

Show Details & Financials

Market Context

Sort

Search a database of more than 250,000 verified dealmakers

Receive automated updates on global transactions

Follow the activity, relationships and transactions of top dealmakers

No credit card required

© COPYRIGHT 2024 MERGERLINKS LIMITED.

ALL RIGHTS RESERVED.

15 BONHILL STREET, LONDON, EC2A 4DN, UNITED KINGDOM.

CONTACT US