South African casino operator, Gold Reef, has won an antitrust watchdog approval for its proposed merger with rival Tsogo Sun, Reuters reports. South Africa’s antitrust investigator had initially suggested that Gold Reef sell its Silverstar Casino ahead of the deal, due to competition concerns. Gold Reef is due to merge with Tsogo Sun, which is owned by brewer SABMiller and Hosken Consolidated Investments (HCI).
HCI will own 41.1% of the merged group, while SABMiller will own 39.7% and Gold Reef will own 19%. The new merged company will remain listed on the Johannesburg Stock Exchange.
Click here for the story from Reuters.
Click here for additional coverage from Independent Online.