Collins Property Group Limited (JSE:CPP) entered into an agreement to acquire remaining 25.7% stake in Collins Property Projects Proprietary Limited from U Reit Collins (Pty) Ltd for ZAR on August 21, 2023. As per the terms of the transaction, Collins Property Group Limited will issue 72,751,197 new shares as consideration. The Proposed Transaction will result in U Reit effectively swapping its 25.7% interest in CPP for a 21.78% interest in Collins in anticipation of Collins being granted REIT status.

Transaction is subject to Collins, CPP and U Reit obtaining the requisite board approvals and CPP and U Reit obtaining the requisite shareholder approvals for the implementation of the Proposed Transaction.