Redefine exits the UK to focus on local and East European assets
SA's second largest property company is selling noncore assets abroad
Redefine Properties, SA's second-largest listed property company, is selling its stake in UK fund RDI Reit for R2.3bn to focus on its local and Eastern European investments.
CEO Andrew Konig said the group was strengthening its balance sheet by raising cash through the sale of noncore assets. On Friday it announced the disposal of its Australian student housing investments for R5.4bn.