• Voter paralysis

    With so much tilting voters against change, democratic reason is the loser, says Solly Moeng.

  • The power of perseverance

    True grit is a reliable predictor of who will achieve success in life, says Ian Mann.

  • It's the system

    The system sucks and it’s being used far too often as an excuse, says Mandi Smallhorne.

All data is delayed
Loading...
See More

Casino merger hearings postponed

Dec 13 2010 13:08
I-Net Bridge

Company Data

SABMILLER PLC [JSE:SAB]

Last traded 981
Change 3
% Change 0
Cumulative volume 943290
Market cap 0

Last Updated: 27-05-2016 at 05:00. Prices are delayed by 15 minutes. Source: McGregor BFA

TSOGO SUN HOLDINGS LIMITED [JSE:TSH]

Last traded 26
Change 0
% Change 0
Cumulative volume 822084
Market cap 0

Last Updated: 27-05-2016 at 05:00. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Gauteng gamblers coin it

Hearing on Tsogo, Gold Reef merger

More nods for Gold Reef, Tsogo merger

 

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.

 

 
 
 

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
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

THE DEBT ISSUE

Debt is one of the biggest financial issues facing South Africans today. Find out how you can avoid and manage your debt with Fin24 and Debt Rescue.
 

Money Clinic

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

Voting Booth

Would you take out a payday loan?

Previous results · Suggest a vote

Loading...