Tsogo Sun to Buy HCI’s Gaming Interests Valued at 2.15b Rand
Tsogo Sun will buy all of Hosken Consolidated Investments’ interest in Gameco.
* HCI, which controls Tsogo, has a 52.3% controlling interest in Niveus;
* 93.75% of Niveus’s interest in gaming, which include Vukani Gaming and Galaxy Bingo, will be distributed to Niveus’ shareholders;
* HCI’s interest in Gameco, after the distribution, will be 225.4m shares;
* Tsogo will acquire HCI’s Gameco shares in exchange for 78.4m Tsogo shares valued at about 2.15b rand;
* Ratio is 1 Tsogo share for every 2.875 Gameco shares. Source: Bloomberg