February 28, 2017 / 1:00 PM / 5 months ago

BRIEF-Ingenuity Property says unit to buy Cape Town property for 300 mln rand

1 Min Read

Feb 28 (Reuters) - Ingenuity Property Investments Ltd :

* Unit has entered into an offer to purchase with Netcare Property to acquire Erven 9644, 2142 and remaining extent of ERF 2143

* Total consideration for acquisition is 300 million rand

* Acquisition will become effective on transfer of property, which is expected to be on or about Aug. 1 2017

* Ingenuity anticipates that other existing components of property will generate income in near future

* Purchase consideration will be settled by ingenuity via bank guarantee for full purchase price, within 20 business days of a formal sale Source text for Eikon: Further company coverage: (Bengaluru Newsroom)

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