THANKS to the slowdown in South Africa’s construction sector since the boom leading to the 2010 Soccer World Cup, local companies are looking elsewhere in Africa for opportunities.
GAMING and leisure group Tsogo Sun is set to gain the income benefits of having a portion of its hotel assets in a real estate investment trust (Reit) structure when it gains control of Hospitality Property Fund.
HOSPITALITY Property Fund (HPF)’s shareholders are likely tomorrow to vote in favour of a new capital structure and a share deal that would see it become the hotel arm of gaming and leisure group Tsogo Sun.
BUILDING material retailer Cashbuild jumped 8.3% yesterday after saying its December quarter revenue had grown 15% from the matching period in 2014. Its revenue over six months was 14% higher than in the previous year.
TWO minority shareholders have urged Hospitality Property Fund to sweeten the share swap deal that forms part of its turnaround strategy, saying its failure to do so could jeopardise the company’s future.
