AECI concludes R1.06bn sale of property to Chinese syndicate

World News: . []

Chemicals group AECI has completed the transfer of its surplus property at Modderfontein, in Gauteng, and its property development business to Chinese diversified property company Shanghai Zendai Property for R1.06-billion in cash. The transaction involved the acquisition of about 1 600 ha of land and the buildings thereon, as well as property development business Heartland Properties and investment holding company AECI Real Estate.

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