Redefine International: Subsidiary buys Earls Court hotel

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Listed Redefine International has agreed, through a partly owned subsidiary, to acquire the remaining 40 percent in the Holiday Inn Express Hotel in Earls Court, London, it does not already own. Its 71 percent held subsidiary, Redefine Hotel Holdings (RHH), has agreed to buy the shareholding in BNRI Earls Court from Camden Lock and Earls Court for £6.3 million (R111m). It will be funded by using part of the proceeds from Redefine International’s recent share placement, plus funds from existing co-investors in RHH. Redefine International shares advanced 2.45 percent to R9.63 yesterday after adding 1.62 percent the previous day. – Roy Cokayne


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