Gaming group gets BEE bid

South African gaming and leisure group Peermont Global has received a R12,90 a share offer from an investors' consortium, valuing the company at R4,26billion, the firm said yesterday.

South African gaming and leisure group Peermont Global has received a R12,90 a share offer from an investors' consortium, valuing the company at R4,26billion, the firm said yesterday.

The consortium, made up of black investor group Mineworkers' Investment Company (MIC) and key Peermont management, has the backing of shareholders holding 73 percent of the group.

"Should this transaction be concluded, it will create one of South Africa's largest black-owned and controlled gaming companies," MIC executive director Keshan Pillay said in a statement.

"I think it is a great offer," Coronation portfolio manager Pallavi Ambekar said.

Pillay said the deal should be concluded by April 2007 - Reuters

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