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'Attractive development pipeline' a key factor in R500m Oppenheimer investment


MONEYWEB
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JSE-listed MAS Real Estate is planning around €600m (close to R11bn) worth of projects in Europe.
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MAS Real Estate s new Dambovita Mall in Romania opened its doors last August in the middle of the pandemic. Image: Supplied
Covid-19 uncertainty has led to MAS Real Estate deciding not to pay out dividends for its half-year to the end of December 2020, but has not halted the group’s ambitious expansion drive in Europe.
“MAS is fully committed to its €600 million [close to R11 billion] development pipeline in the CEE [Central and Eastern Europe] region,” group CEO Martin Slabbert told Moneyweb on Friday, following the release of its latest interim results. ....

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Phumelela payments to creditors reach ZAR208.3m


Phumelela payments to creditors reach ZAR208.3m
1st February 2021
| By Daniel O Boyle
South African horse racing operator Phumelela, which is in the process of being wound up, has paid ZAR208.3m (£40.6m/€46.0m/$55.5m) to its creditors, according to the latest update from business rescue practitioner John Evans.
The business was placed in was placed in business rescue – a form of bankruptcy protection – in May.
Under the plan, all of Phumelela’s assets were put up for sale, with net proceeds used to repay creditors.
The operator has paid ZAR111.9m to secured creditors Investec and Rand Merchant Bank. A further ZAR14.2m was paid to unsecured creditors, and ZAR82.3m in post-commencement finance to Mary Oppenheimer Daughters, which acquired Phumelela as part of the business rescue plan. ....

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