Lorem ipsum proin gravida nibh vel velit auctor aliquetenean idelit sollicitudin, lorem quis bibendum auci elit consequat ipsutis sem.
[mkd_icon_with_text icon_pack="font_awesome" fa_icon="fa-phone-square" icon_position="left" icon_type="normal" icon_size="mkd-icon-tiny" icon_animation="" icon_margin="0 10px 8px 0" holder_margin="0 0 -12px 0" title="1-677-124-44227 " title_tag="h6" title_text_transform="" title_text_font_weight="500" text_padding="7px 0 0 0" title_letter_spacing="0px" icon_color="#d5d5d5" custom_icon_size="21" title_color="#999999"] [mkd_icon_with_text icon_pack="font_awesome" fa_icon="fa-envelope-square" icon_position="left" icon_type="normal" icon_size="mkd-icon-tiny" icon_animation="" icon_margin="0 10px 8px 0" holder_margin="0 0 -12px 0" title="info@yourbusiness.com " title_tag="h6" title_text_transform="none" title_text_font_weight="500" text_padding="7px 0 0 0" title_letter_spacing="0px" icon_color="#d5d5d5" custom_icon_size="21" title_color="#999999"] [mkd_icon_with_text icon_pack="font_awesome" fa_icon="fa-external-link-square" icon_position="left" icon_type="normal" icon_size="mkd-icon-tiny" icon_animation="" icon_margin="0 10px 8px 0" holder_margin="0 0 22px 0" title="184 Main Collins Street | West victoria 8007" title_tag="h6" title_text_transform="" title_text_font_weight="500" text_padding="7px 50px 0 0" title_letter_spacing="0px" icon_color="#d5d5d5" custom_icon_size="21" title_color="#999999"] [mkd_separator position="center" color="#f5f5f5" border_style="solid" thickness="2" top_margin="20px" bottom_margin="1px" type="full-width"]
Lorem ipsum proin gravida nibh vel velit auctor alique tenean sollicitudin, lorem quis.
[mkd_icon icon_pack="font_elegant" fe_icon="social_twitter" size="mkd-icon-tiny" custom_size="13" type="normal" icon_animation="" link="https://twitter.com/" target="_blank" icon_color="#202023" hover_icon_color="#a7b0be" margin="-10px 14px 0 0px"] [mkd_icon icon_pack="font_elegant" fe_icon="social_facebook" size="mkd-icon-tiny" custom_size="13" type="normal" icon_animation="" link="https://www.facebook.com/" target="_blank" icon_color="#202023" hover_icon_color="#a7b0be" margin="-10px 14px 0 0px"] [mkd_icon icon_pack="font_elegant" fe_icon="social_linkedin" size="mkd-icon-tiny" custom_size="13" type="normal" icon_animation="" link="https://www.linkedin.com/" target="_blank" icon_color="#202023" hover_icon_color="#a7b0be" margin="-10px 14px 0 0px"]
Top

Blog

SA’s Redefine sold 111mln shares in British subsidiary DRI Reit

See the source image

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.

This image has an empty alt attribute; its file name is image-2.png

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.


GetFundedAfrica is a technology-based, business information platform operated by Afriscaper Research & Consulting Limited with a mission to reduce barriers to funding for African businesses. GFA matches investor ready, African & African-Diaspora owned companies with global investors, leveraging market research, industry data and news aggregation

GFA’s must read weekend feature entitled Making Finance Work For Agriculture in Africa [Part 2] has been released. Read more

Are you an entrepreneur? Share your story with us and get featured on our platform send us an email nichole@getfundedafrica.com

This image has an empty alt attribute; its file name is image-20.png
No Comments
Add Comment
Name*
Email*
Website