An unknown buyer signed a sale agreement to acquire a 33.33% stake in Atterbury Value Mart from Hyprop Investments Limited (JSE:HYP) on February 8, 2021. Combined consideration of all three transactions is ZAR 1.1 billion. Consideration will be paid in cash on the transfer date and a vendor loan of ZAR 66.1 million to be made available by Hyprop Investments Limited to Atterbury Mile Proprietary Limited. In related transactions, Twin City Trading 2 Proprietary Limited and Primegrowth Retail Property Proprietary Limited, each concluded separate sale agreements to acquire a 33.33% stake each in Atterbury Value Mart from Hyprop Investments Limited. Atterbury Value Mart reported a net operating income of approximately ZAR 110 million for the financial year ended June 30, 2020. Transaction is subject to Atterbury Mile Proprietary Limited, Primegrowth Retail Property Proprietary Limited and Twin City Trading 2 Proprietary Limited obtaining senior debt finance of at least ZAR 150 million; the Competition Authorities approving the disposal; Hyprop Investments Limited and Atterbury Mile Proprietary Limited concluding a vendor loan agreement and a step-in rights agreement and an intercreditor agreement (including with the senior lenders to Atterbury Mile); Primegrowth Retail Property Proprietary Limited, Twin City Trading 2 Proprietary Limited and Atterbury Mile Proprietary Limited concluding a co-ownership agreement in respect of Atterbury Value Mart and Hyprop concluding an agreement with the general manager of Atterbury Value Mart to retain his services. As per announcement made on April 23, 2021, Competition Tribunal of South Africa approved the merger. The net proceeds from the disposal will be used to reduce debt and will result in Hyprop’s see-through loan to value ratio at June 30, 2020 of 41.4% reducing by 1.9% to 39.5%. An unknown buyer completed the acquisition of 33.33% stake in Atterbury Value Mart from Hyprop Investments Limited (JSE:HYP) on July 13, 2021. The cash proceeds will be used to strengthen Hyprop Investments Limited's balance sheet.