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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.

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Editor's Comment
Celebrate responsibly, put safety first this holiday

“Safety first is safety always”– Charles M HayesAs most people begin travelling across the country to spend the President’s Holidays with family and friends, there is every reason to embrace the joy and togetherness that this period brings.While holiday periods bring joy, they are sadly often accompanied by a rise in road accidents, violent incidents and other avoidable tragedies. Too often, families that set out to celebrate together end...

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