UK REIT Redefine International plc (RDI.L), Friday said hotel and entertainment group Tsogo Sun Holdings Ltd. acquired 25 percent of the hotel management company Redefine BDL Hotel Group Ltd. for 8.1 million pounds. The acquisition is effective from May 1.
The acquisition is expected to provide RBDL cash to develop and update its business in the UK and Europe.
Redefine International’s stake in Redefine BDL Hotel Group has been reduced to 25.3 percent following the acquisition.
Source: RTT News – staff writer