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August, 2014
GLP Advises Minor International on Entering into a Strategic Partnership with Sun International (Announced)
Global Leisure Partners acted as financial advisor to Minor International in its announced deal to acquire a significant shareholding in a portfolio of 8 hotels in Africa from Sun International for a total consideration of R679.5 million (USD 63.9 million). The deal is subject to final diligence and regulatory approval.
The partnership intends to leverage both companies’ core strengths where Sun International will continue to manage the casino operations, while Minor International will assume the hotel management, marketing and distribution under Minor’s Anantara and AVANI brands.
Minor currently own 8 luxury game lodges and resorts, in Kenya and Tanzania, and 5 hotel projects, in Mozambique. The proposed transaction is in line with its Africa expansion plans allowing, it to operate in Botswana, Lesotho, Namibia, Swaziland and Zambia, where it believes there is secular demand growth for quality accommodation.
The properties being acquired include the Royal Livingstone and Zambezi in Zambia; the Gaborone Sun in Botswana; the Kalahari Sands in Namibia; the Lesotho Sun and Maseru Sun in Lesotho; and the Royal Swazi and Ezulwini Sun in Swaziland.
Minor International is a global hotel, hospitality and lifestyle brands company, listed on the Stock Exchange of Thailand. The company manages a portfolio of 110 hotels and is one of Asia’s largest restaurant companies with over 1,500 outlets in 20 countries.
Sun International is a leading hotel, resort and gaming company focused on the development, management and operation of hotels, resorts and casinos in South Africa, other parts of Africa and Latin America. The company is listed on the Johannesburg Stock Exchange, and is invested in, and manages a portfolio of hotel and casino properties valued at $2.3 billion.
Contacts:
| Mark Harms |
| Chairman & CEO |
| Global Leisure Partners LLP |
| Tel: +44 (0) 20 7016 8050 |
Important Notice:
Global Leisure Partners LLP ("GLP") is authorised and regulated in the UK by the Financial Conduct Authority. Global Leisure Partners LLC, a subsidiary of GLP, is a
broker-dealer registered in the US with the Securities and Exchange Commission and is a FINRA member firm. Global Leisure Capital Partners LLC ("GLCP"), a wholly-owned subsidiary of GLP, is the principal investment arm of GLP. ©2014 GLP. All rights reserved. GLP specifically prohibits the redistribution of this material and accepts
no liability whatsoever for the actions of third parties in this respect. |
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