The South African hotel group, Sun International, will once again operate properties in Botswana. This comes seven years after it exited investment in the landlocked country.
Picture: Sourced / @suninternationalza
Sun International operates a number of hotels, casinos and resorts. According to TravelNews, the hospitality and gaming company has a 40% stake in Peermont Global Botswana (PGB). This is under certain conditions made by the Competition and Consumer Authority (CCA).
Sun International will take over various properties. These include Peermont Mondior and the Grand Palm in Gaborone, as well as the Peermont Metcourt Hotel & Sedibeng Casino in Francistown.
As per the transaction which has been conditionally approved by the CCA, Sun International will buy a 40% stake in Peermont Global Botswana.
This entity was previously owned by Botswana’s state-owned investment agency, the Botswana Development Corporation (BDC).
In December 2023, Sun International announced its acquisition of Peermont Holdings. This takeover is as a result of the acquisition.
Peermont is also the hospitality group that operates Johannesburg flagship Emperors Palace Resort.
The CCA has noted the risks surrounding the takeover of BDC, as Sun International will acquire a dominant position in the local casino market.
Thus, the approval of this acquisition deal has come with several conditions. These include the retention of all employees from the target enterprise, and a prohibition on dismissing any employees in Botswana.
Furthermore, Sun International is to provide documentation of this for three years after the takeover. The hotel group is also required to give priority to locally owned suppliers.
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