Grit Real Estate Income increases stake in Letlole La Rona to 30%

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Real estate group Grit Real Estate Income said it had entered a sale and purchase agreement with Botswana Development Corporation to increase its stake in Letlole La Rona to 30% from 6.25% for US$13.8m on a shares-only basis.

The transaction was expected to help Grit increase its exposure to the Botswana property market.

The $13.8m purchase would be settled through the issuance of new shares in Grit at US$ 1.40 per share.

At 10:04am: (LON:GR1T) Grit Real Estate Income Group Limited Ord Npv Di share price was +0.01p at 1.2p