Tsogo Sun will bring the largest hotel business in SA to public investors
Investors’ calls for Tsogo to break into two specialised businesses have been heeded
Tsogo Sun is set to list the country’s largest diversified hospitality group on the JSE in June, giving investors exposure to an array of top-rated hotels such as Monte Casino. Tsogo is being broken into two parts, namely Tsogo Sun Hotels and Tsogo Sun Gaming, which will be listed separately. Tsogo Sun Hotels will include 110 properties across the continent and a 60% interest in JSE-listed Hospitality Property Fund (HPF). The unbundling would be implemented through a distribution of all the ordinary shares in the hotels business to Tsogo Sun’s shareholders, using the ratio of one Tsogo Sun Hotels share for every Tsogo Sun share held. Former CEO of Tsogo Sun and the new chair of Tsogo Sun Hotels, Marcel von Aulock, said investors were being given a choice; investing in a hotels business which could provide regular income returns or in a gaming business that had a mix of mature casino assets and newer gambling assets.
He said Tsogo Sun Hotels, which would list on June 12, could ...
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.