SUN International (SI) has made an offer to acquire all the shares of investment company Real Africa Holdings (RAH) for R5,90 cash per share. RAH has a 66.2% stake in Afrisun Leisure Investments, which in turn holds minority interests in a number of SI subsidiaries. These include Afrisun Gauteng (Carnival City Casino), Afrisun KZN (Sibaya Casino), Emfuleni (Boardwalk Casino, PE) and Sunwest (Grandwest Gasino and Table Bay Hotel, Cape Town), as well as shareholdings in the National Casino Resort Manco and the Gauteng Casino Resort Manco. SI has submitted a written notice of its offer to RAH, with the deadline for response set for April 7. The offer price is based on implementation of the acquisition by the end of August. Jackie Mackenzie (katen@nowmedia.co.za)
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