Attacq and GEPF conclude landmark R2.7bn equity transaction

Waterfall City

Attacq Limited has concluded its landmark R2.7 billion transaction with the Government Employees Pension Fund (GEPF). Results of voting at a recent General Meeting indicated overwhelming shareholder support for a transformative transaction for the business.

The two resolutions tabled at the meeting were voted unanimously at 100% in favour of the deal by shareholders with the GEPF having acquired a 30% shareholding in Attacq Waterfall Investment Company Proprietary Limited (AWIC), the company that holds the Waterfall City development rights.

Post the transaction, Attacq will have a stronger, de-leveraged balance sheet and optimised capital structure to bolster both development opportunities and distributable income to shareholders.

We are delighted that shareholders have given their stamp of approval to this landmark transaction, which will se us working alongside the GEPF as we execute on our purpose-led strategy of creating long-term sustainable value,” commented Jackie van Niekerk, CEO of Attacq Limited.