Sun International’s two largest shareholders dismiss Chilean offer
The offer from investment house Nueva values the hospitality group at just more than R3bn
Two major shareholders rejected as too low a R1.5bn bid from Nueva Inversiones Pacifico for a majority stake in Sun International, a move that tests the Chilean firm’s determination to add African assets to its South American portfolio.
The nonbinding offer came hours after Sun International on Wednesday set out a plan to survive amid the economic uncertainty in the Covid-19 world, helping shares in the Johannesburg-based company stage a late-session rally to log their biggest one-day gain in almost a week...
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