Discovery Buys 1 Discovery Place for R4.05 Billion

Discovery Limited has announced the acquisition of its head office, 1 Discovery Place in Sandton, for R4.05 billion. The company expects the purchase to result in immediate and growing annual cash-flow savings, with a net present value benefit of approximately R800 million over the remaining lease period. Discovery says the move demonstrates its long-term commitment to South Africa and secures ownership of a key asset.

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