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CORRECTED-BRIEF-Hospitality Property in talks to buy hotels worth 3.3 bln rand from Tsogo Sun
February 10, 2017 / 9:55 AM / in 6 months

CORRECTED-BRIEF-Hospitality Property in talks to buy hotels worth 3.3 bln rand from Tsogo Sun

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(Corrects figure in headline to 3.3 bln rand from 2.2 bln rand)

Feb 10 (Reuters) - Hospitality Property Fund Ltd:

* Entered into negotiations with Tsogo Sun and/or subsidiaries over potential acquisition of a circa R3.3 billion portfolio of hotel assets

* Proposed transaction will be implemented on an income-for-income basis and funded by hospitality through a debt and equity

* Preparing to undertake an underwritten rights offer to raise about R1.8 billion at offer pricing based on then prevailing market price Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 806 749 1136)

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