Tsogo Sun down after SABMiller moves to sell

Comment on this story


JSEPic

INLSA

The JSE board in Sandton in Johannesburg. Photo: Leon Nicholas.

Johannesburg - Shares of Tsogo Sun Holdings tumble 7 percent to 25 rand after SABMiller says it will sell its 40 percent stake in the South African hotel and gaming group for around $1 billion.

SABMiller says it plans to dispose of up to all of its holding through a placing of up to 305 million shares to South African and international institutional investors, and a buyback by Tsogo Sun of at least 130 million shares for about $260 million. - Reuters


sign up
 
 

Comment Guidelines



  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

     

Join us on

IOL-Social networks IOL-Social networks IOL-Social networks IOL-Social networks