Sun International returns to Botswana

Peermont owns 60 percent in Grand Palm with BDC holding the remainder. PIC: KAGISO ONKATSWITSE
Peermont owns 60 percent in Grand Palm with BDC holding the remainder. PIC: KAGISO ONKATSWITSE

International resort hotel chain, Sun International, plans to acquire hotel and gaming company, Peermont group that owns hotels and casinos in South Africa and Botswana in a R 9.43 billion (P7.73 billion) deal.

The move will see Sun international, which divested from Gaborone Sun Hotel last year, bouncing back into Botswana and taking over Peermont’s Grand Palm hotel, Mondior, Metcourt Inn and the casino at Sedibeng hotel in Francistown.

In South Africa, Peermont owns eight resort and gaming operations including Emperors Palace in Gauteng and Graceland in Mpumalanga.

Editor's Comment
The corrupt must be punished

The findings reveal a disturbing pattern of misconduct and lack of transparency that cannot be ignored.The Tribunal, led by Judge President Justice Kabelo Lebotse, has rightly condemned the Ministry for its eyebrow raising conduct in awarding a P1.8 billion water tender to China Civil Engineering Construction Corporation (Pty) Ltd and Zhong Gan Engineering & Construction Corporation (Pty) Ltd.The award was made despite alleged clear evidence that...

Have a Story? Send Us a tip
arrow up