May
23 - Large South African casino and resort operator, Gold Reef Resorts
Ltd has been approached by several potential buyers and has admitted to being in
preliminary talks with some of them.
A Gold Reef Resorts spokesperson confirmed that although in the exploratory
stages, the talks may well lead to concrete offers for the entire company. In
reply to the news, Gold Reef Resorts shares rose on the JSE by 2.94
percent to R31.90 on the day of the announcement.
Gold Reef Resorts is best known for its flagship property, Gold Reef City casino and theme park in Johannesburg, as well as numerous other casino and hotels it owns and operates throughout South Africa.
Earlier this year, South Africa's second-largest hotel and casino operator,
Peermont Global, was acquired by a consortium of private equity groups in a deal
worth an estimated $600 million.
There appears to be a current trend for private equity groups to 'snap up' consumer companies in South Africa as Africa's largest economy with an ever-growing black middle class as well as business-friendly tax cuts.
May
23 - Large South African casino and resort operator, Gold Reef Resorts
Ltd has been approached by several potential buyers and has admitted to being in
preliminary talks with some of them.
