UK listed real estate company Wichford announced on Monday that its all-share offer for Redefine International (RI) has become unconditional.
UK listed real estate company Wichford announced on Monday that its all-share offer for Redefine International (RI) has become unconditional.
Both companies are listed in London. RI is delisting as part of the merger and Wichford is changing its name to Redefine International.
Last week shareholders of South Africa's Redefine Properties International, the largest shareholder in RI, backed the deal.
Wichford owns 75 properties occupied by central or local government bodies in the UK, five in Germany and one each in France and the Netherlands. The portfolio is valued at about £580 mln (EUR 684 mln).
RI, a hybrid property investment company with a market capitalisation of approximately £230 mln, has a property portfolio valued at £510 mln. The company also a 21.7% shareholding in Wichford.
Redefine Properties Limited, which is listed on the Johannesburg Stock Exchange, indirectly owns a shareholding in Wichford Property Management Limited, Wichford's property manager.