Kuwait investors acquiring additional stake in South Africa estate for $1.2 million
Kuwait Investors IFA Hotels & Resorts strengthened its interests in South Africa by acquiring a further 5.25% in Boschendal, one of the oldest wine estates in South Africa, increasing its stake to 37.33%.
The transaction value is not mentioned in their press release, but according to the filings obtained by DubaiBeat.com, the transaction value is approximately $1.2 million. (They had originally bought a 19.25% stake in the Boschendal Estate for approximately $10 million in June 2006. In September 2007 they increased their stake to 26.5%.)
IFA Hotels & Resorts listed on the Kuwait Stock Exchange in January 2006, with a market capitalization of over $1 billion. According to their release, their current portfolio consists of 40 projects in total, of which 23 are hotels. Assets under management are valued at $10 billion. (To see more Kuwait investors like IFA check our investors list)
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