BUZZ-Redefine International: Sheds non-core asset to be top midcap gainer

** Redefine International, property co focused on the UK and German markets, up 2.8 pct & top gainer on London's midcap index after co disposes off remaining stake in a non-core asset

** The UK Real Estate Investment Trust (REIT) sells entire remaining stake in Australia-listed property fund manager Cromwell Property Group via accelerated bookbuilding

** UK REITs rationalising portfolios since last year, striking deals for non-core assets at premiums in buoyant market & using regional expertise to pick-up under priced assets where value can be driven

** Cromwell sale at discount of 3.85 pct to market fetches Redefine 172.8 million Australian dollars ($121.3 million)

** Australia-listed Cromwell flat, but nearly half of daily avg volume traded through since open

** REITs secure & non-volatile stocks as they pay out c.90 pct of earnings to shareholders ($1 = 1.4245 Australian dollars) (RM (LSE: RM.L - news) : esha.vaish.thomsonreuters.com@reuters.net)