Vunani Capital Partners Ltd. concluded agreement to acquire Commercial office portfolio from Rebosis Property Fund Limited (JSE:REB) for ZAR 3.9 billion on October 21, 2021. Consideration will be paid in cash. In a related transaction, Vunani Capital Partners Ltd. concluded agreement to acquire Commercial office portfolio from Ascension Properties Limited (Ascension Sale Portfolio) for ZAR 2.4 billion on October 21, 2021. Vunani Capital Partners Ltd. has obtained sufficient funding in respect of debt funding, the issuing by a bank or other financial institution concerned of a letter, in for reasonably acceptable to the Rebosis Group, confirming that a mortgage loan or similar debt facility has been granted and in respect of equity funding, written commitment letters from each such equity funder in terms of which such equity funder has irrevocably committed to make the applicable equity funding available to Vunani Capital Partners Ltd. to fund the acquisition. Both the transactions are inter-conditional. Transactions are subject to conclusion of conditions precedent including the successful completion of a due diligence by Vunani Capital Partners, regulatory approvals and Rebosis shareholder approval. Transaction is approved by the Competition Authorities. Proceeds from the disposal will be used to pay down debt from a current ZAR 9.4 billion to approximately BRL 3 billion. Cliffe Dekker Hofmeyr and Vani Chetty Competition Law (Pty) Ltd. acted as legal advisors to Rebosis Property Fund Limited.

Vunani Capital Partners Ltd. cancelled the acquisition of Commercial office portfolio from Rebosis Property Fund Limited (JSE:REB) on June 29, 2022.