Libyan sovereign wealth fund fights for control of Legacy Hotels
Boardroom battle pits Ensemble against hospitality group founder
The battle for control of one of SA’s premier hospitality groups, Legacy Hotels and Resorts, is set to go down to the wire in a boardroom battle that pits Ensemble, an outfit backed by the Libyan sovereign wealth fund, against the company’s founder and celebrated hotelier Bart Dorrestein and associates.
This follows a high court order that Ensemble, which owns 39.79% of Legacy Hotels and Resorts, and Dorrestein’s Legacy Management Holdings (LMH) which owns 40.84%, together with an entity called Swanvest, which has a 19.39% stake in the group, go to a private auction and outbid each other for full control of the company...
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