South African hotel chain Sun International on Friday announced plans to take over casino resort group Peermont for nearly 9.5 billion rand ($775 million) to fund the acquisition.
Sun intends to roll over nearly R3.9 billion of Peermont’s senior debt while taking on a fresh facility of about R575 million, it said in a filing to regulators.
Sun International is one of the biggest hotels in the country headed by Sol Kerzner since 1983 when the South African Breweries its hotel interests into two.
($1 = 12.2598 rand)
Sun International to buy Peermont in R9.5 billion deal
South African hotel chain Sun International on Friday announced plans to take over casino resort group Peermont for nearly 9.5 billion rand ($775 million) to fund the acquisition.
Sun intends to roll over nearly R3.9 billion of Peermont’s senior debt while taking on a fresh facility of about R575 million, it said in a filing to regulators.
Sun International is one of the biggest hotels in the country headed by Sol Kerzner since 1983 when the South African Breweries its hotel interests into two.
($1 = 12.2598 rand)