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Grit Real Estate Income Group - Pan-African property investment and management company based in Mauritius - On Monday, announces disposal of its 99.9% stake in Bora Africa for $50.7 million and the sale of its 48.5% interest in a diplomatic housing asset in Mozambique for $19.6 million - both to Gateway Real Estate Africa, the group‘s development subsidiary. Agrees to subscribe to fund raising under which GREA will raise $100 million to fund the deals. Proceeds will be used to reduce the group’s inter-company and external indebtedness and replenish working capital facilities. Current stock price: 20.71 pence 12-month change: down 37% Copyright 2024 Alliance News Ltd. All Rights Reserved.
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