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Hospitality Property Fund in talks to buy hotels from Tsogo Sun
February 10, 2017 / 10:39 AM / 9 months ago

Hospitality Property Fund in talks to buy hotels from Tsogo Sun

JOHANNESBURG, Feb 10 (Reuters) - South Africa’s Hospitality Property Fund is in talks with Tsogo Sun to buy approximately 3.3 billion rand ($247 million) worth of hotel assets, the company said on Friday.

Hospitality said in a statement it would fund the transaction through a combination of debt and equity with 1.8 billion rand to come from a rights issue of shares. It did not give any further details. ($1 = 13.3454 rand) (Reporting by Nqobile Dludla)

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