African Sun completes purchase of Dawn Properties

HOSPITALITY group, African Sun Limited completed its full acquisition of realtor, Dawn Properties Limited for $1,47 billion, during the half-year to June 30, 2022.

African Sun’s interest in DPL was revealed at a board meeting in May 2020, during which the board agreed to purchase the realtor by offering shareholders one share in the hotelier in exchange of 3,988075946 of the real estate firm’s shares.

As previously reported, the deal entailed African Sun issuing 616 129 718 new ordinary shares to be listed on the ZSE, for 2 457 172 108 shares in Dawn, representing 100% of the issued shares.

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