Loading...
See More

Casino merger hearings postponed

Dec 13 2010 13:08 I-Net Bridge

Company Data

SABMILLER PLC [JSE:SAB]

Last traded 0
Change 3,67
% Change 0
Cumulative volume 414561
Market cap 1.02tr

Last Updated: 26-11-2014 at 02:03. Prices are delayed by 15 minutes. Source: McGregor BFA

TSOGO SUN HOLDINGS LIMITED [JSE:TSH]

Last traded 0
Change -0,36
% Change 0
Cumulative volume 921331
Market cap 29.89bn

Last Updated: 26-11-2014 at 02:02. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Gauteng gamblers coin it

Hearing on Tsogo, Gold Reef merger

Gold Reef-Tsogo merger gets nod

More nods for Gold Reef, Tsogo merger

Tsogo tees off

Nafhold to sell R1.5bn Tsogo Sun stake

 

Johannesburg - The Competition Tribunal has postponed to next year hearings on the proposed merger between Gold Reef Resorts [JSE:GDF] and Tsogo Sun.

The competition body said hearings were not completed on December 10 2010 as scheduled and will resume on January 13 and 14 2011, with legal argument set for February 9 2011.

The proposed deal is dependent on the tribunal for final approval.

The two national casino operators have thus far managed to secure support from the Gauteng Gambling Board, KwaZulu-Natal Gambling Board, Mpumalanga Gambling Board and the Western Cape Gambling and Racing Board.

The Competition Commission recommended in November that the tribunal approve the deal, on condition that the merged entity sells off Silverstar Casino.

According to the commission, the merger could potentially lessen competition in the Gauteng casino market.

The deal will be effected through an acquisition by Gold Reef of the Tsogo shares held by Tsogo Investment Holding (TIH) and SABMiller [JSE:SAB] in exchange for the issue of new Gold Reef shares to form a merged company, which will be listed on the JSE.

SABMiller will exchange its 49% interest in Tsogo Sun for a 39.7% interest in the enlarged Gold Reef/Tsogo Sun business, which will continue to be listed on the JSE with an expected market capitalisation of about R21bn.

 

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

Retailers of any shape and size can now unlock the power of mobile transacting.
 
 

Hottie of the day: Nicole Meyer!

Nicole is the cover girl for the 2014 edition of SA Swimsuit! Check out some smoking hot pics of here here.

 
 

Men24.com

11 things men don’t know about their clothes
Hilarious mortal kombat elevator prank!
This is how the Top Gear presenters spend their £55 million!
Thirty and still single? There’s hope!

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...