Tsogo Sun acquires stake in Redefine BDL Hotel Group

Tsogo Sun CEO, Marcel von Aulock hinted that the company’s acquisition of a 25% interest in Redefine BDL Hotel Group for for £8.1m (aprox R141m) could be a forerunner for more offshore forays.

Redefine International plc said on Friday that Tsogo Sun had acquired a 25% interest in its subsidiary‚ Redefine BDL Hotel Group (RBDL)‚ for £8.1 million (aprox R141m).

Redefine International‚ which is listed in London and on the JSE‚ said the deal was of strategic importance for both parties‚ providing RBDL with additional cash resources to develop and update its business in the UK and Europe.

It will also allow Tsogo Sun access to additional management expertise‚ exposure to new markets and the potential for opportunities to deploy capital in “attractive” investments in the European market in the future.

Mr von Aulock hinted that Tsogo’s acquisition of a 25% interest in Redefine BDL Hotel Group for £8.1m (aprox R141m) could be a forerunner for more offshore forays. "There is the potential for opportunities to deploy capital in attractive investments in the European market " he said.

Tsogo Sun is South Africa’s largest hotel and casino operator and an associate of SAB Miller Plc.