Following various announcements made by Edcon over recent months in relation to the recapitalisation of the business, the Group has advanced the process sufficiently to provide a further update to all stakeholders. 

Growthpoint Properties has announced that is has sold 2.3% of its linked units in issue to Phatsima Properties in a black economic empowerment deal

Growthpoint Properties Limited, South Africa’s largest JSE-listed property holding and investment company with property assets in excess of R15 billion, has announced that 2.3% of its linked units in issue will be acquired by black controlled and managed property investment holding company Phatsima Properties.