Redefine International has acquired the remaining 19.54% of Kalihora Holdings that it did not already hold for GBP1 million.

The total purchase price will be settled with a combination of cash and the issue of ordinary shares in the company.

Commenting on the transaction, Redefine chairman Gavin Tipper said on Wednesday: "This acquisition is in line with the company's stated strategy of simplifying the group ownership structure by acquiring minority shareholder interests in underlying investments over time."

Kalihora, a company that owns two stores in Switzerland, was 80.46% owned by Redefine prior to the placing.

Source: I-Net Bridge