The plans of Hosken Consolidated Investment’s (HCI) to restructure gaming assets held in two of its subsidiaries, Tsogo Sun and Niveus, were thrown into disarray on Tuesday following a ruling by the Competition Tribunal that will require HCI to seek competition approval for the planned restructuring. The ruling was issued just 36 hours before Niveus and Tsogo Sun shareholders were due to vote on the restructuring. HCI chairman Johnny Copelyn indicated on Wednesday that the two meetings would be going ahead. But given the possibility that the competition authorities could impose conditions on the restructuring, there was some uncertainty about what would be voted on. A Niveus shareholder said he was looking forward to attending the meeting, which he expected to be "very interesting". HCI did not approach the competition authorities for approval in December 2016, when it first announced the restructuring. It told the tribunal it believed the restructuring proposal did not constitute a...
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