UK bookmaker Betfred offers up to R925m for Phumelela
The struggling horse-racing group's creditors must back the bid at a meeting in September or lose the offer
26 August 2020 - 21:15
UK bookmaker Betfred has made a takeover offer of as much as R925m for horse-racing group Phumelela, which is trying to emerge from business rescue.
Phumela sought protection from creditors’ say against itself or its assets in May after the Covid-19 pandemic struck amid weak operational performance...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.