Mauritian firm seals P150m Letlole la Rona equity deal

Friday, November 22, 2019

Done deal: Shenjere-Mutiswa says Grit will be LLR's partner of choice in Botswana and into Africa

Mauritian real estate group, Grit Real Estate has snapped up 23.7% of the Botswana Development Corporation’s (BDC) shares in Letlole la Rona (LLR), in a deal worth US$13.8 million (P150.3 million).

The deal means Grit now holds 30% equity in Letlole, up from 6.25 percent, while the BDC is down to 42% from 65.8%.

The purchase consideration for the deal is not cash, but rather the issuance of new Grit shares to the BDC at US$1.40 per share. The deal could give the BDC what is possibly its first offshore equity, a strategic direction the Corporation has been pushing for sometime.

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Mauritian firm seals P150m Letlole la Rona equity deal

Mauritian real estate group, Grit Real Estate has snapped up 23.7% of the Botswana Development Corporation’s (BDC) shares in Letlole la Rona (LLR), in a deal worth US$13.8 million (P150.3 million).

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Civil Society calls for Constitution review governing Act

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Inspect the voters' roll!