Redefine International acquires 25% stake in International Hotel Group
Redefine International has acquired a 25.35% stake in hotel and leisure focused property investment company International Hotel Group Limited (IHGL).
FTSE 250
19,965.39
17:04 30/04/24
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FTSE 350
4,476.48
17:05 30/04/24
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FTSE All-Share
4,430.25
17:14 30/04/24
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RDI Reit
121.20p
16:40 30/04/21
0.00%
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Real Estate Investment Trusts
2,240.01
17:05 30/04/24
-0.78%
-17.50
The FTSE 250 real estate investment trust announced on Thursday it acquired the stake for £3.8m.
Redefine chief executive Mike Watters said the investment it part of the group’s overall hotel investment strategy.
"We expect IHGL to grow into a significant hotel investment vehicle over the medium term and look forward to superior risk adjusted returns being achieved by its highly rated management team."
Shares in Redefine dipped 0.5p (0.94%) to 52.70p per share at 0812 BST.