[DATA RPL:Redefine International PLC], is a UK Real Estate Investment Trust which has a primary listing on the London Stock Exchange and a secondary listing on the Johannesburg Stock Exchange.
“Redefine International is pleased to announce that Tsogo Sun Holdings Limited has invested 8.1 million British pounds to acquire a 25 per cent interest in the hotel management company,” said Redefine DBL.
(READ MORE: Tsogo Sun acquires a stake in two casino businesses)
[DATA TSH:Tsogo Sun Holdings Limited] is South Africa’s largest hotel and casino operator and an associate of [DATA SAB:SAB Miller Plc]. The deal was effective from 1 May 2014.
(READ MORE: SABMiller reviews Tsogo Sun stake)
Following the acquisition, the company’s interest in Redefine BDL, which has approximately 60 hotels under management, has reduced to 25.3 per cent.
The acquisition is reported to be of strategic importance for both parties as it provides benefits to both companies.
“Redefine BDL will benefit from additional cash resources to develop and update its business in the UK and Europe whilst allowing Tsogo Sun access to additional management expertise,” added the company.
The deal is also expected to give increased exposure to Tsogo Sun on new markets and the potential for opportunities to deploy capital in attractive investments in the European market in the future.