R7.2bn EPP takeover to benefit Redefine Properties
The deal protects Redefine’s carrying value in EPP from dilutive value destruction
24 January 2022 - 12:58
UPDATED 24 January 2022 - 18:27
Redefine’s acquisition of Polish landlord EPP is in line with strategic objectives of reducing risk, while simplifying the company’s investment and asset portfolio, CEO Andrew Konig says, days after shareholders of the target firm overwhelmingly gave the R7.2bn all-share deal the thumbs up.
The acquisition, which will also allow Redefine to have more input into EPP’s funding and liquidity management, and first announced in November, expands the exposure of SA’s largest landlord by assets in the Eastern European country’s red-hot commercial real estate market. ..
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