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Johannesburg - Redefine Properties International [JSE:RIN] said on Thursday it has concluded an agreement through its subsidiary Redefine International plc to acquire St Georges Shopping Centre for £25m.
The deal, concluded with Corovest Offshore, will be funded through a combination of internal resources, capital-raising on London's AIM market and the issue of RIN-linked units on the JSE.
All conditions precedent to the transaction have been fulfilled.
RIN, which forms part of the Redefine Properties stable, says the transaction is in line with the objective of increasing its presence in the UK property market.
"The acquisition will complement the company's existing retail portfolio of five high-quality shopping centres," it said.
The deal, concluded with Corovest Offshore, will be funded through a combination of internal resources, capital-raising on London's AIM market and the issue of RIN-linked units on the JSE.
All conditions precedent to the transaction have been fulfilled.
RIN, which forms part of the Redefine Properties stable, says the transaction is in line with the objective of increasing its presence in the UK property market.
"The acquisition will complement the company's existing retail portfolio of five high-quality shopping centres," it said.
