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BRIEF-Mara Delta to buy Tamassa Resort for $40 mln on a cash, debt free basis
August 22, 2016 / 12:26 PM / in a year

BRIEF-Mara Delta to buy Tamassa Resort for $40 mln on a cash, debt free basis

Aug 22 (Reuters) - Mara Delta Property Holdings Ltd :

* Has entered into a non-binding heads of terms with Néréide Limited, a wholly-owned subsidiary of Lux Island Resorts Limited, for acquisition of Tamassa Resort

* Acquisition is subject to conditions precedent including approval from board of investment of mauritius and exchange and execution of a binding sale and purchase agreement acceptable to parties

* Annual rent payable during initial period of lease will represent 8-9 pct of purchase value, resulting in a yield accretive investment for Mara Delta

* Says total consideration of euro equivalent of $40 mln Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 806 749 1136)

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