Redefine International, the company listed in London and Johannesburg, South Africa, has purchased a 25.35 per cent stake in the International Hotel Group - a hotel- and leisure-focused property investment company incorporated in the British Virgin Islands. Redefine said that it would pay about £3.8 million for the stake.
International Hotel Group, owning three hotels in the UK, is listed on the Luxembourg Stock Exchange, and last week it listed its shares on the JSE’s Alternative Exchange, having become the 12th company to list on the AltX in 2015.
Redefine CEO Mike Watters stated that this investment is “part of our overall hotel investment strategy”, and Redefine expects that the International Hotel Group will “grow into a significant hotel investment vehicle over the medium-term”.
