Redefine International, a UK Real Estate Investment Trust, listed in London and Johannesburg, has announced that Tsogo Sun has invested GBP8.1 million to acquire a 25% interest in the hotel management company, Redefine BDL Hotel Group (RBDL), with effect from 1 May 2014.
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.
