Letlole hunts for deals with proceeds of Cresta sale

Letlole sold its hospitality portfolio to Cresta this year
Letlole sold its hospitality portfolio to Cresta this year

Listed property group, Letlole la Rona (LLR) is eyeing investment opportunities following the P235 million sale of hotels to Cresta Marakanelo boosted its cash pile.

LLR shareholders approved the deal earlier this year, under which the property group sold President Hotel, Cresta Lodge, Thapama Hotel and Cresta Bosele to Cresta.

The deal sailed through despite the sale amount representing a 7.7 percent discount on the value of the four properties, which was pegged at P254.7 million in December 2018.

Editor's Comment
Congratulations Anicia Gaothuse!

The contest had 10 beautiful young girls as finalists and unfortunately only one could wear the crown.The judges picked Anicia Gaothuse. To all those who feel their contestant should have won ahead of Anicia for whatever reason, hardly; the judges found Anicia to be the best among the best, so desist from disrespecting our newly crowned queen on social media or anywhere else, for that matter! Each of the 10 beautiful young women had supporters...

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