https://www.engineeringnews.co.za

Sun International raises stake in Chile hotel group

30th May 2017

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

     

Font size: - +

Sun International will, through its Sun Latam subsidiary, increase its stake in the Sun Dreams hotel group, in Chile, to 65%.

Sun Latam and fellow Sun Dreams stakeholder Nueva Inversiones Pacifico, will each acquire 50% of EDS’s 19.3% equity interest in Sun Dreams. Pacifico will own 35% of Sun Dreams after the deal is concluded.

Sun International will pay $65.04-million for the additional stake it is buying.

The equity interests will be settled in cash, using funding to be secured from financial institutions in Chile.

Sun International said the deal eliminates the risks of having EDS and Pacifico exercising their put options against Sun International for their entire shareholdings in Sun Dreams, with the incumbent cash and debt consequences which these would entail for the group. 

 

Edited by Creamer Media Reporter

Comments

Showroom

M and J Mining
M and J Mining

M and J Mining are leading suppliers of physical support systems as used by the underground mining industry. Our selection of products are not...

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.104 0.155s - 137pq - 2rq
Subscribe Now