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
Botswana must not be a flag of convenience for rogues

‘A man’s country is not a certain area of land, of mountains, rivers, and woods, but it is a principle and patriotism is loyalty to that principle’.- George William CurtisAccording to the report carried in this publication, the fraudsters operating the so-called “dark fleet” have selected Botswana’s flag as their cover of choice. This is a direct assault on our country’s most valuable asset, the good name.For decades, Botswana has...

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