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Further nod for Gold Reef, Tsogo merger

Jan 19 2011 18:30 I-Net Bridge

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Johannesburg - Gaming and entertainment company Gold Reef Resorts [JSE:GDF] said on Wednesday that additional regulatory approval had been received for the merger of its gaming and hotel businesses with those of Tsogo Sun Holdings (Tsogo).

"Shareholders are advised that the approval, for the acquisition of a financial interest arising from the proposed merger, has now been received from the Eastern Cape Gambling & Betting Board," it said.

This approval is in addition to the approvals already granted by the Gauteng Gambling Board, the KwaZulu-Natal Gambling Board, the Mpumalanga Gambling Board and the Western Cape Gambling and Racing Board.

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 shares in Gold Reef.

 

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