Attacq sells its MAS stake for R773m as it eyes further boosts for Waterfall City

Waterfall City owner Attacq has sold its remaining 6.5% stake in fellow commercial property investor MAS to focus on assets it can have more influence on.

The R773 million in proceeds will be deployed to develop opportunities such as the Ellipse residential flagship project at its Waterfall City complex north of Johannesburg. This development has recently attracted a hefty external capital injection that has helped the group cut its debt.