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SACTWU reduces stake in HCI, acquires R500 million property
Cape Times
|July 07, 2025
THE South African Clothing and Textile Workers Union (SACTWU) will lower its stake in Hosken Consolidated Investments (HCI) as part of two agreements that include buying three HCI properties, including Gallagher Estate, for R549.7 million in total.
HCI stated in a regulatory, related party announcement to the JSE on Friday that the reason for the transactions was that SACTWU wished to increase its cash holdings for its operations, and to increase its interests in additional investment properties to generate more regular, ideally monthly cash flow to fund its operational and member benefit programs and other related employment projects.
Because HCI only distributes cash dividends to shareholders on a six-monthly basis, SACTWU had recently been disposing of HCI shares on the market through the JSE order book to enable it to fund its ongoing obligations. However, these disposals were not sustainable over a longer period, and SACTWU engaged HCI to find solutions for its cash flow requirements.
This story is from the July 07, 2025 edition of Cape Times.
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