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BRIEF-Redefine International to acquire control of German retail portfolio joint venture
April 7, 2017 / 6:33 AM / 8 months ago

BRIEF-Redefine International to acquire control of German retail portfolio joint venture

April 7 (Reuters) - Redefine International Plc:

* Agrees €49 Million Investment to acquire control of german retail portfolio joint venture

* Acquisition of controlling interest in Leopard Portfolio consisting of 66 German retail properties currently held in joint venture

* Total portfolio independently valued at EUR 175.5 million reflecting a net initial yield of 7.4 per cent

* Consideration will be funded from cash resources

* Company will hold an effective 94 per cent controlling interest in portfolio, whilst providing 100 per cent

* Company will hold an effective 94 per cent controlling interest in portfolio, whilst providing 100 per cent. Of its non-bank financing requirements by way of shareholder loans Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

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