Automotive component manufacturer Dorbyl (DLV) on Monday advised that it had entered into an agreement to dispose of its properties in Struandale and Uitenhage, Port Elizabeth to Slip Knot Investments 777 for a combined total of R65m.
The disposal consideration in respect of the Struandale property is R35m, while its Uitenhage property is valued R30m, the group said.
Dorbyl had earlier announced that the properties were considered surplus to the requirements of the group and would either be rented out or disposed of.
According to Dorbyl, in early in 2010, after taking into account the working capital requirements and other potential funding needs of the group, the board would give consideration to the declaration of a special dividend of surplus funds arising from the disposals. – I-Net Bridge
Readers' Comments
Have a comment about this article? Email us now..
Property News
Click here for more property news articles.
Need a blog?
Start your own blog with a free blog from 24.com.
