An unknown buyer acquired 2.1% stake in Grit Real Estate Income Group Limited (JSE:GTR) from Delta Property Fund Limited (JSE:DLT) for approximately ZAR 100 million on January 17, 2020. Under the terms of the transaction, the buyer will acquire 6,497,566 shares of Grit for ZAR 16.06 per share and the consideration will be paid in cash. Upon completion of the acquisition, Delta will now have 5.7% stake in Grit from its previous 7.8% stake. The proceeds of the transaction will be used by Delta to settle debt facilities with Investec Bank and is in line with Delta's stated capital recycling and debt reduction strategy.

An unknown buyer completed the acquisition of 2.1% stake in Grit Real Estate Income Group Limited (JSE:GTR) from Delta Property Fund Limited (JSE:DLT) on January 17, 2020.