MCC Contracts sells properties to Sandton Plant Hire

AMCU

MCC Contracts Proprietary Limited a wholly-owned subsidiary of eXtract Group said it has reached an agreement to dispose of the immovable properties situate at 60 Rodio Place, Midrand Industrial Park, Gauteng to Sandton Plant Hire East Proprietary Limited.

According to a statement by eXtract Group, the property was sold for an aggregate consideration of ZAR52 million.

The group said the disposal is part of its strategy to dispose of all excess assets, as more fully detailed in the announcement released on SENS on 18 April 2017. The proceeds of the Sandton Plant transaction will be used to repay a portion of eXtract’s South African bank debt.

eXtract Group said it will remain in occupation of a portion of the property for two years from the transfer date for a nominal rental and shall be liable for all expenses.

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