Gold Reef-Tsogo merger gets nod
Johannesburg - Gaming and entertainment company Gold Reef Resorts [JSE:GDF] said on Monday that gaming regulatory approvals have been received for the merger of its gaming and hotel businesses with those of Tsogo.
The merger will take place through the acquisition by Gold Reef of the entire issued share capital of Tsogo from Tsogo Investment Holding Company and SABSA Holdings in exchange for Gold Reef shares.
The approval of the Gauteng Gambling Board is still conditional on the receipt of approval from the competition authorities and the KwaZulu-Natal Gambling Board.
Shareholders will be notified through further announcements.