by TINTSWALO BALOYI
JOHANNESBURG, (CAJ News) – SUN International South Africa (SISA) has acquired a 7,8 percent equity interest in Grand Parade Investments from Value Capital Partners.
The deal is valued at R128,2 million (US$7,36 million).
This is in line with SISA’s stated strategic objective of increasing its equity interest in its portfolio of South African operations where there are minority interests.
Grand Parade is an empowering investment holding company that actively manages investments in its current focus areas of food and gaming.
Prior to the transaction, SISA held a 13,3 percent equity interest in Grande Parade.
The effect of the deal is that SISA’s equity interest in the latter increases to 21,1 percent.
SISA holds 70 percent equity interest in Sun Slots, a 61,59 percent equity interest in Sun West International and 61,4 percent equity interest in Worcester Casino.
Grand Parade owns 15,1 percent equity interest in Worcester while Grand Casino Investments, a wholly owned subsidiary of Grand Parade, holds a 30 percent equity interest in Sun Slots and 15,1 percent equity interest in SunWest.
– CAJ News