Mall of Africa now under full control after R1bn Attacq move

Property group Attacq said on Tuesday its 70%-held subsidiary Waterfall Investment Company (AWIC) has inked a R1.07 billion deal to acquire the 20% of the Mall of Africa it doesn't already own from Atterbury Property.

The group said this is in line with its strategy to invest in well-positioned assets it already controls. The mall, which is eight years old and anchors Waterfall City, continues to perform strongly as one of the best performing super-regional malls in South Africa, it said on Tuesday.

AWIC's 80% share of the Mall of Africa had a valuation of about R4.6 billion as of the end of December, and key clients include Checkers Hyper, Edgars, Game, Pick n Pay, Woolworths.