News: Deals: Reports

Companies Economy International Corrections Pre-market Trading After-hours Trading Winners/Losers/Actives Bonds Currencies Commodities World Markets Money Magazine Real Estate Mutual Funds Taxes Ask the Expert Money 101 Autos Loan Center Best Places to Live Ask the Expert Millionaires in the Making Ultimate Guide to Retirement Retirement Calculators Best Funds Ask the Mole Best Places to Retire Personal Tech Big Tech Blog Techland Blog Sectors and Stocks Fortune 500 Techs Tech Talk 100 Best Places to Launch Ultimate Resource Guide Small Biz Makeovers FSB 100 Ask & Answer Fortune 500 Technology Investing Management Rankings Main Create Portfolio Edit Portfolio Create Alerts Edit Alerts

Gold Reef Resorts Ltd & Mainstreet 581(Pty)Ltd	Update Date: 11/24/08
Date Announced: 10/09/08
Value (million $USD): 100.9 million U.S. Dollar 940.5 million South African Rand

Status: Pending

TRANSACTION DETAILS
Date Announced	10/09/08
Date Originally Announced	10/09/08
Format	Acq. Part. Int.	Acquisition techniques	Privately Negotiated Purc
Attitude	Neutral	Agency	n/a
Value	100.9 million U.S. Dollar 940.5 million South African Rand	Advisor Fees	n/a

SYNOPSIS

SOUTH AFRICA - Mainstreet 581 (Pty ) Ltd, an indirect wholly-owned unit of Tsogo Sun Holdings (Pty) Ltd, a 51:49 joint venture between Tsogo Investments and SABMiller PLC, agreed to raise its stake to 19.87% from 4.86%, by acquiring a further 15.01% stake, or 41.8 mil ordinary shares, in Gold Reef Resorts Ltd, an Ormonde-based owner and operator of casino and resorts, from Clidet No 754 (Pty) Ltd, Clidet No 755 (Pty) Ltd, Parmtro Investments No 95 (Pty) Ltd, Platoon Trade and Invest 15 (Pty) Ltd, Reygrande Investment Holdings (Pty) Limited, Saddle Path Props 20 (Pty) Ltd, Saffron Balm Trading 29 (Pty) Ltd, and Y-Investments Ltd, for 22.5 South African rands ($2.413 US) in cash per share, or a total value of 940.5 mil rands ($100.858 mil), in a privately negotiated transaction.

TARGET
Name	Gold Reef Resorts Ltd (Johannesbu : GDF-JO)
Industries	Hotels and motels; Amusement parks
City	Ormonde
State	n/a
Nation	South Africa
Incorporated in	n/a
Public Status	Public
Business Description	Gold Reef Resorts Ltd owns and operates casinos and resorts. It operates as a gaming and entertainment company in South Africa. Its interests incorporate Akani Egoli, which operates the Gold Reef City Casino and Theme Park; Akani Msunduzi, which operates Golden Horse; West Coast Leisure, which operates Casino Mykonos; Garden Route Casino, which operates Garden Route Casino; and Goldfields Casino, which operates Goldfields Casino. The Group also operates GRM which currently provides management services to its own projects with the aim of targeting independent operations in the future. The company was founded in 1989.
Advisors	NULL
Target Sales	211.1 million U.S. Dollar 1.43 billion South African Rand

ACQUIROR
Name	Mainstreet 581(Pty)Ltd
Industries	n/a
City	n/a
State	n/a
Nation	South Africa
Incorporated in	n/a
Public Status	Subsidiary
Business Description	Mainstreet 581 (Pty) Ltd, located in South Africa, owns and operates hotels.
Advisors	NULL
Acquiror Sales	n/a

Live Quotes automatically refresh, but individual equities are delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET.
* : Time reflects local markets trading time. † - Intraday data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. Disclaimer

Copyright © 2009 BigCharts.com Inc. All rights reserved. Please see our Terms of Use.
MarketWatch, the MarketWatch logo, and BigCharts are registered trademarks of MarketWatch, Inc.
Intraday data provided by Interactive Data Real-Time Services and subject to the Terms of Use.
Intraday data is at least 20-minutes delayed. All times are ET.
Historical, current end-of-day data, and splits data provided by Interactive Data Pricing and Reference Data.
Fundamental data provided by Morningstar, Inc..
SEC Filings data provided by Edgar Online Inc..
Earnings data provided by FactSet CallStreet, LLC.