Tsogo Sun Hotels moves to acquire remaining shares in Hospitality Property Fund
The acquisition will see Tsogo Sun Hotels hold 100 percent of the Hospitality Fund’s shares.
Tsogo Sun Hotels is moving to purchase the remaining Hospitality Property Fund shares within the next six days.
After completion, Tsogo Sun Hotels will hold 100 percent of the total issued ordinary shares in the Hospitality Property Fund.
Shareholders were informed of their interest in picking up the remaining shares in September last year and again in January this year.
In the statement released in January, shareholders were informed that if they did not accept the offer, the hotel group would find alternative ways to acquire those shares.
The Hospitality portfolio comprises 54 properties with more than 9,000 rooms across South Africa.