MARC HASENFUSS: Grand Parade cash flush, for now
Grand Parade Investments will be royally flush after offloading its remaining 30% stake in Sun Slots, a limited-payout machine gaming business, to Sun International
05 September 2019 - 05:00
Grand Parade Investments (GPI) will be royally flush after offloading its remaining 30% stake in Sun Slots, a limited-payout machine gaming business, to casino giant Sun International. The R504m proceeds will cull debt markedly, which will certainly help grease the continued rollout of GPI’s Burger King outlets.
The cash will also reinforce GPI’s status as a reliable dividend payer, vital in maintaining sentiment among its sprawling base of community shareholders. The size of the envisaged special dividend will be telling and will reflect the board’s views on the longer-term prospects for Burger King...
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.