Tourvest buys controlling interest in Adrift
TOURISM group Tourvest said on Tuesday it had acquired a controlling interest in Ugandan-based Nile rafting company Adrift.Tourvest delisted from the JSE in 2008 after it was acquired by a black economic empowerment-led consortium.The company said the deal, for an undisclosed sum, was designed to support its accommodation and activities division’s expansion outside South Africa.The company’s divisional CEO, Gary Elmes, said Uganda "has outstanding wildlife-based tourism potential". The transaction included the acquisition of the majority share in the Wild Waters Lodge, which is on an island in the Nile River and surrounded by the Kalagala Falls."We have also secured concessions to build lodges in or near most of the national parks, including Bwindi, Queen Elizabeth, Murchison Falls and the Kazinga Channel as part of the acquisition," Mr Elmes said.The company already has a small footprint in Uganda through its overland safari business Drifters.Mr Elmes said the acquisition was anoth...
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