SUN International agreed to buy the Peermont Group
The Supplementary Valuation Roll 3 (GV2013) for Johannesburg is open for public inspection from 18 March 2015 to 15 May 2015.
25th March 2015
Acquisition of the Peermont Group and withdrawal of cautionary announcement
25th March 2015
SUN International to buy the Peermont Group
SUN International said on Friday it had agreed to buy the Peermont Group for R9.4bn. The hotel and casino operator said the deal formed part of its strategy to enhance and leverage its existing asset portfolio and to seek new growth opportunities.
Peermont operates a portfolio of gaming and hospitality businesses in SA and Botswana and owns nine casino resorts, including its flagship Emperors Palace casino resort. Sun International plans to fund the acquisition by issuing 10.5-million shares to Peermont shareholders at R120 per share, and plans a rights offer to raise R3.7bn.
