6 major shopping malls in South Africa sold as part of R2 billion deal

Six major shopping malls in South Africa are set to change hands as part of a R2 billion deal. The Competition Tribunal is expected to approve the acquisition, which will add 90,000 square metres of retail space to Luxanio's portfolio, expanding its reach across four provinces. The deal's completion is largely funded by investors and bank loans, with R1.1 billion secured through new shares sold to private investors, marking a significant expansion for the company.