Tuesday, September 21, 2021

    Tsogo Sun calls off casino and hotel sale

    Must read

    Naija247news Editorial Teamhttps://www.naija247news.com/
    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    JOHANNESBURG (Reuters) – Tsogo Sun has called off its planned sale of seven casino and hotel businesses to Hospitality Property Fund due to a lack of support from shareholders, the South African company said on Monday.

    “The sale of shares and subscription agreement has been terminated by agreement between Tsogo, Hospitality and the remaining parties to that agreement,” Tsogo said in a statement.

    Hospitality said in July it would acquire the businesses in a shares and subscription agreement worth 23 billion rand ($1.72 billion).

    Tsogo said at the time the sale was part of plans to split into three separately listed divisions focused on property, gaming and hotel management.

    Reporting by Tanisha Heiberg; editing by Jason Neely

    - Advertisement -spot_img

    More articles

    - Advertisement -spot_img

    Latest article

    WP to LinkedIn Auto Publish Powered By : XYZScripts.com