Delta City shopping centers sold to Africans for EUR 202.8 million

Delta City shopping centers in Belgrade and Podgorica have been sold to Africans.

Hyprop Investments, the largest African fund that specializes in investing in shopping centers, has acquired a 60-percent stake in these shopping malls, while Homestead Group Holdings Limited bought the remaining 40% of shares.

Delta City in Belgrade is sold for EUR 127.7 million, EUR 111.9 million of which were paid to Delta, while 15.8 million euro will be used to repay the debt to banks. For Delta City in Podgorica, Africans paid EUR 75 million.

A total value of this acquisition is 202.8 million euro. These shopping centers will be managed by the newly formed company Hystead Limited with headquarters in Great Britain.