Redefine Properties €362 million acquisition of majority stake in Echo Prime Properties

• Redefine Properties, a South African-based real estate investment trust, has acquired a 75% stake in Echo Prime Properties from Echo Investment, in an indirect acquisition. 
• Redefine announced an intention to reduce this 75% stake to a 50% stake through a sale. 
• The transaction is valued at €1.2 billion. A March 1 Bloomberg article listed the purchase price at €362 million. 

Rani Mehta - Journalist