• Tsogo Sun sale
Brewer SABMiller is to dispose of its 39.6% stake in South African hotelier and casino operator Tsogo Sun. The USD1.09bn deal will be carried out in two stages, reports Bloomberg. 

A two stage transaction is likely to see some shares sold to institutional investors, while Tsogo Sun will buy back a tranche of the issued stock. Under pressure to improve the beverage business, SABMiller executives have decided hotels and gaming are non-core. 
Read the full story here:
http://www.bloomberg.com/news/2014-07-07/sabmiller-to-sell-1-09-billion-holding-in-tsogo-sun.html
 
Share →