Monday, 13 December 2010

Growthpoint in talks that could affect shares | Reuters

South Africa's largest listed property group Growthpoint said on Monday it is in talks that could impact its shares, amid reports that it is part of a group that bought the nation's top tourist spot.

The Mail & Guardian newspaper, citing two people briefed on the deal, said on Friday Growthpoint was part of the group that bought Cape Town's V&A Waterfront in a 10 billion rand deal.

Absa and government pension fund, the Public Investment Corporation, were also cited as buyers of the real estate, sold by Britain-based London & Regional Properties and Dubai-based investment firm Dubai World.

Growthpoint declined to comment, with chief executive officer Norbert Sasse saying: "Nobody is in a position to comment at this stage.

V&A Waterfront is South Africa's biggest tourist attraction, situated in the heart of Cape Town under Table Mountain, with its shops and hotels that lure millions of visitors.

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