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Johannesburg - Listed investment company Blackstar Group announced on Monday that its unit, Blackstar Real Estate had
entered into an agreement to purchase a commercial property in Midrand, Gauteng
for R58m.
The property would be held through a new property holding
company (Newco) with BRE owning 70% of the ordinary shares and Litha Healthcare
Group [JSE:LHG] owning 30% of the ordinary shares of Newco.
The property would be occupied by Litha and would provide
operating space for a large portion of Litha's operations within Gauteng.
Simultaneously with the property transaction, Newco had entered into a triple net lease agreement with Litha Medical (Pty) Limited, a major operating subsidiary of Litha.
