Letlole replaces NAP in Mahalapye mall deal

Wednesday, December 20, 2017

New buyers: Letlole La Rona is diversifying its portfolio to boost retail and industrial properties

Two months after the Competition Authority (CA) approved a deal for New African Properties (NAP) to buy the Watershed Piazza mall in Mahalapye, the transaction is back before the watchdog, this time with Letlole La Rona (LLR) as the new buyers.

The Botswana Stock Exchange (BSE) listed NAP had sought approval from the CA, but it now appears the deal fell through despite having been given the green light.

In a statement released this week, the CA said they have received notice of a proposed acquisition by Letlole La Rona Limited of the enterprise situated in Mahalapye known as Watershed Piazza shopping mall, together with the underlying leases and the right to collect rental from its current owner Jus Posh Investments (Pty) Ltd.

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