Grand Palm to have new owners

The Grand Palm is Gaborone's only five star hotel PIC: KAGISO ONKATSWITSE
The Grand Palm is Gaborone's only five star hotel PIC: KAGISO ONKATSWITSE

The Grand Palm Hotel, Gaborone’s only five star hotel, is set to have new owners if a proposed deal for current controlling shareholder, Peermont Global to divest goes through.

Peermont Global owns 60% in Peermont Botswana, which in turn runs the Grand Palm Hotel and Casino, Mondior, Metcourt and the casino at Sedibeng hotel in Francistown.

In a deal that is currently being examined by the competition authorities in Botswana and South Africa, a US company, Golden Tree Asset Management LP together with South Africa’s MIC Leisure have proposed to jointly acquire Peermont Global.

Editor's Comment
Batswana need to do better to stop FMD

It is a clear signal that the government’s purse is empty and that our own behaviour has left veterinary officials fighting with one hand tied behind their backs. We have been here before. During COVID-19, many of us thought we knew better. We ignored simple rules, we carried on as if the danger was someone else’s problem, and the virus took lives and left our economy on its knees. We are still broke from that experience. Yet now, with FMD...

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