Redefine to keep selling noncore assets while share price lags
EPP takeover helps to put balance sheet back at levels enabling the Reit to absorb shocks, says CEO
30 May 2022 - 20:10
After nearly three years of operating in a tough environment, and completing the takeover of EPP, Redefine Properties says it is now focused on efficiently managing its premium assets and selling those considered noncore.
The group’s high gearing levels, which reached more than 40% in November 2019, were limiting access to additional debt funding. This led Redefine to sell assets that were not producing income at levels the company expected, in a bid to reduce borrowings...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.