Sasol Pension Fund signed an expression of interest to acquire Eden Meander Shopping Centre situated on Erf 26207 from Accelerate Property Fund Limited for approximately ZAR 520 million.

Sasol Pension Fund signed an expression of interest to acquire Eden Meander Shopping Centre situated on Erf 26207 from Accelerate Property Fund Limited (JSE:APF) for approximately ZAR 520 million on March 31, 2023. The final purchase price will be determined following the due diligence investigation. The proposed transaction is subject to entering into binding sale and purchase agreement, due diligence review, competition commission approval and approval of Sasol Pension Fund?s investment committee of the proposed transaction and Accelerate shareholder.

The effective date for the proposed transaction is on or about November 30, 2023. It is the intention of Accelerate to apply the full proceeds of the proposed transaction to reduce debt and/or capital reinvestment into its core property portfolio.