Exemplar REITail Limited (JSE:EXP) agreed to acquire Eerste River Mall from Erf 1824 Eerste Rivier Proprietary Limited for approximately ZAR 280 million on June 10, 2024. A cash consideration of ZAR 282 million will be paid by Exemplar REITail Limited.

The transaction is subject to approval of merger agreement by target board, approval of offer by acquirer board, approval of offer by target shareholders, consummation of due diligence investigation which is to fulfilled on or before June 30, 2024 and subject to antitrust regulations on or before August 31, 2024. The expected completion of the transaction is September 1, 2024.