TSOGO-SUN:  2,145   -49 (-2.23%)  19/03/2019 00:00

South Africa's Tsogo Sun to spin off hotel business

JOHANNESBURG, March 15 (Reuters) - South African hotelier and casino operator Tsogo Sun said on Friday it will proceed with its plan to hive off and separately list its hotel business.

"Given that the gaming and hotel divisions operate in distinctly different markets and service different customers, there are limited opportunities to leverage synergies within the group as a whole," it said in a statement.

(Reporting by Emma Rumney; Editing by Olivia Kumwenda-mtambo)

2019-03-15 14:26:21

© 2019 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. "Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.