23 May 2014 07:00
REDEFINE INTERNATIONAL P.L.C.
("Redefine International" or the "Company")
(Registered number 010534V)
LSE share code: RDI
JSE share code: RPL
ISIN: IM00B8BV8G91
TSOGO SUN ACQUIRES A 25% INTEREST IN REDEFINE BDL HOTEL GROUP LIMITED
Redefine International, 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, is pleased to announce that Tsogo Sun Holdings Limited ("Tsogo Sun") has invested £8.1 million to acquire a 25% interest in the hotel management company, Redefine BDL Hotel Group Limited ("RBDL"), with effect from 1 May 2014 (the "Acquisition").
Following the Acquisition, the Company's interest in RBDL, which has approximately 60 hotels under management, has reduced to 25.3%.
Tsogo Sun is South Africa's largest hotel and casino operator and an associate of SAB Miller Plc. The Acquisition is of strategic importance for both parties, providing RBDL with additional cash resources to develop and update its business in the UK and Europe whilst allowing Tsogo Sun access to additional management expertise, exposure to new markets and the potential for opportunities to deploy capital in attractive investments in the European market in the future.
For further information:
Redefine International P.L.C. |
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Michael Watters, Stephen Oakenfull | Tel: +44 (0) 20 7811 0100 |
FTI Consulting UK Public Relations Adviser |
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Stephanie Highett, Dido Laurimore Marketing Concepts SA Public Relations Adviser Suren Naidoo | Tel: +44 (0) 20 3727 1000
Tel: + 27 (0) 11 783 0700 |
JSE Sponsor Java Capital |
Tel: + 27 (0) 11 283 0042
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