SA’s Redefine sold 111mln shares in British subsidiary DRI Reit
Wednesday, 01 July 2020 13:18
South African real estate investment trust, Redefine Properties, announced on June 29 it has reached an agreement with US investment firm Starwood Capital Group to sell 111.9 million shares in its British arm RDI Reit at 95 pence per share. Redefine will cash a total of 106.3 million pound sterling ($130.3 million) from this transaction.
The sale’s proceeds will help the South African company to strengthen its balance sheet and have enough resources to deal with the post-covid phase.
According to Andrew Konig (pictured), Redefine CEO, the market conditions and the current health crisis could put huge pressure on the local real estate sector during this and the coming years. To curb this situation, the company is considering divesting its assets deemed unprofitable.
Before this new operation, Redefine Properties sold two assets in Australia for 459 million Australian dollars to settle part of its debt.
Chamberline Moko
Live News
-
Africa’s Energy Boom in 2026 Puts AfCFTA at the Heart of Its Trade Response to US Tariffs
12:03
-
Africa’s Artificial Intelligence Moment : Infrastructure, Governance and the Path to Scale
11:52
-
Kenya’s Economy Expands 4.9% in Q3 on Construction, Services
10:18
-
Rio Tinto, Glencore Hold Early Talks on Potential Mining Mega-Deal
10:17
-
Orabank to Close Four Branches in Togo From February 2026
20:13
-
Cameroon Brings Informal Property Brokers Under VAT Rules
16:05
-
Novarea Textile, Togo Apparels Source Join Adétikopé Industrial Platform
16:01
-
Strengthening the Economic Bridge: Outgoing U.S. Ambassador Shares Vision for Future Cameroon-U.S. Investment
12:30
-
Strengthening the Cotton Value Chain: Crédit du Sahel Formalize Strategic Banking Alliance
11:50
-
Cameroon Scores Mid-Table in World Bank’s Business Ready 2025 Report
11:46
The BCID-AES launches with 500B CFA to fund Sahel infrastructure, asserting sovereignty from the B...
Gabon names Thierry Minko economy and finance minister in Jan. 1 reshuffle Move follows tra...
Togo passes new law tightening anti-money laundering and terrorism financing rules Legislat...
Ethiopia agreed in principle with investors holding over 45% of its $1 billion eurobond due 2...
Heirs Energies acquires M&P’s 20% Seplat stake for $496M, exiting french group Maurel & Pro...
Africa’s energy & mining exports benefit from US tariff exemptions, cushioning trade as most other sectors face sharp contraction in 2025. Power, gas,...
Africa’s AI adoption is accelerating, but its ability to scale depends primarily on foundational investments—especially reliable electricity, digital...
Kenya’s economy grew 4.9% year on year in Q3 2025, up from 4.2% a year earlier. Construction, mining, hospitality and real estate drove growth...
Rio Tinto and Glencore confirmed early-stage discussions on a potential transaction with no firm offer. Rio Tinto must declare its intention to bid, or...
The Sundance Institute selected three African films from more than 16,000 submissions across 164 countries. The 2026 festival will run from January 22...
Organizers opened submissions for the sixth Annaba Mediterranean Film Festival from Jan. 8 to Feb. 28, 2026. The festival accepts feature films, short...