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Lavastone gears up to become new owner of ABSA House

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Lavastone gears up to become new owner of ABSA House

The Board of Lavastone Ltd has just entered into a Share Purchase Agreement for the acquisition of 100% of the shares of BH Property Investments Ltd, the owner of ABSA House situated at Ebene.

According to a document on website of the Stock Exchange of Mauritius, the transaction will be subject to satisfactory completion of conditions precedent, including various due diligence exercises, the obtention of relevant regulatory approvals, final corporate and any other approvals required by the parties to the transaction.

The Board of Lavastone is of the view that the acquisition of the ABSA House represents a unique growth opportunity and is in line with its investment and growth strategies.

The anchor tenant is Absa Bank (Mauritius) Ltd, occupying 86% of the lettable space with a strong lease covenant.

Shareholders of Lavastone and the investing public will be kept informed of further developments in respect of this matter, Lavastone said.

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The information and opinions expressed in our published works are those of authors/sources believed to be reliable. NewsMoris makes no representations as to accuracy, completeness, suitability, or validity of any information expressed.