Redefine Properties Limited (JSE:RDF) and Redefine International P.L.C. (LSE:RDI) acquired portfolio of 56 German retail properties for approximately €160 million from South African and Israeli investors based in Great Britain in mid-January, 2015. Under the terms of the transaction, the consideration includes a net consideration of approximately €57.4 million and the assumption of existing bank debt of €100 million. Redefine Properties Limited and Redefine International P.L.C. will fund the net consideration amount equally from their existing cash resources. Redefine Properties Limited and Redefine International P.L.C. secured a €83.15 million facility to finance this transaction. The portfolio generated gross rental income of €12.6 million. As part of the transaction, Redefine International will manage the portfolio in return for a management fee of 0.375% of Redefine Properties' share of the portfolio's gross asset value.

Dido Laurimore, Claire Turvey, Ellie Sweeney of FTI Consulting acted as the UK public relations advisor and Max Gebhardt of FTI Consulting acted as the South Africa public relations advisor to Redefine International. Jörn Fingerhuth, Howard Gill, Mark Leonard, Werner Geißelmeier, Christian Lütkehaus, Holger Kessen, Marina Arntzen, Anke Kötter, Olivia Irrgang, Jana Sichelschmidt, Veit Kachelmann, Amie Norries and Alasdair Weir of Pinsent Masons acted as legal advisors to Redefine International P.L.C. Henning Schuchardt-Weymann and Dominik Berker of HauckSchuchardt and Claire-Marie Darnand, Frédéric Pilorget and Valérie-Anne Demulier of Stibbe acted as legal advisors to Redefine International P.L.C. Stephen Cowins and James Breffit of King & Wood Mallesons, Johann Rumetsch and Andreas Wüsthoff of Hebert Smith Freehills and Cedric Bless and Audrey Jarraton of Beerens & Avocats acted as legal advisors to the sellers. The transaction is expected to be earnings accretive in the financial year.

Redefine Properties Limited (JSE:RDF) and Redefine International P.L.C. (LSE:RDI) completed the acquisition of Portfolio of 56 German Retail Properties from South African and Israeli investors based in Great Britain in mid-January, 2015.