Owner of South Africa’s largest mall sells major shopping centre for R630 million

• Accelerate Property Fund sells Cedar Square for R630 million
• The mall is being sold to a private group called Aristonas, which has the Big Apple Trust as its ultimate beneficiary, and the transaction remains subject to shareholder and Competition Authority approval
• The disposal forms part of Accelerate's ongoing strategic repositioning and restructuring programme, with the proceeds to be used for debt reduction