Phumelela in talks to raise R300m to avert collapse amid horse-racing ban
The company has been unable to stage events during the coronavirus lockdown
05 May 2020 - 19:16
Phumelela Gaming and Leisure is in talks to raise R300m to stave off collapse as SA’s measures to contain the coronavirus curtail horse racing and other sporting events, according to people familiar with the matter.
Talks with a capital provider and banks are under way to salvage at least part of the business, said the people, who asked not to be identified as the details of the terms are private...
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