Hotels and casino merger blocked

Peermont owns 60% of the Grand Palm Hotel and Casino
Peermont owns 60% of the Grand Palm Hotel and Casino

The proposed P9 billion takeover of gaming and hotel company, Peermont Group by JSE-listed resort hotel group Sun International has been blocked by the competition watchdog of South Africa.

The deal, which would have resulted in Sun taking over Peermont’s Grand Palm hotel, Mondior, Metcourt Inn and the casinos including the one at Sedibeng hotel in Botswana, had already been given a conditional greenlight in Botswana.

In a recommendation to its tribunal, the Competition Commission of South Africa yesterday blocked the deal saying it will prevent decreasing competition in an already concentrated market.

Editor's Comment
CoA brings sanity to DIS/DCEC long-standing feud

This decision follows the raiding of the office of the former Director General of the DCEC, Tymon Katlholo early 2022 and his staff officer by the DIS operatives who reportedly took files that they had targeted.After all back and forth arguments, the CoA has set the record straight giving an invaluable lesson to the DIS that it was no super security organ and it does not have any powers to cogently supervise other security organs including the...

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