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Equites Property Fund and EPPF to establish joint venture company

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Equites Property Fund Limited has announced a joint venture company with EPPF, and is set to acquire DSV Campus to build a world-class logistics property portfolio for SA.

On Wednesday, 13 October 2021, Equites Property Fund Limited announced to its shareholders that it will be entering into a joint venture with Eskom Pension and Provident Fund (EPPF). This is to establish a joint company where equites will subscribe 51 percent of the share capital and EPPF will subscribe the remaining 49 percent.

Equites’ total equity contribution to the joint venture company will be R732 million. The joint venture company will acquire Erf 1881 Witfontein Extension 89 Township, Registration Division IR, Province of Gauteng, from DSV Real Estate Johannesburg Propriety Limited. This is on the basis that the property will be leased back to DSV Solutions Propriety Limited, a subsidiary of DSV for a purchase price of R2 050 000 000.

The intention is to establish a strategic venture between Equites and EPPF, with the aim of building a world-class logistics property portfolio in South Africa. This venture will create a mutually beneficial partnership.

Mahlohonolo Lakaje
[email protected]

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