South Africa authority rejects Sun International-Peermont casino merger
Regulation · 2024-10-29
South Africa authority rejects Sun International-Peermont casino merger
South Africa’s Competition Commission on Sunday gave the red light to Sun International’s proposed acquisition of Peermont Holdings, recommending that the Competition Tribunal prohibit the merger due to its potential effects on market competition.
The $396.6 million (R70 billion) deal, announced in December last year, would include Peermont’s Emperors Palace resort and its online betting brand, PalaceBet. Sun International’s share price closed at R44.67 on Friday, up 0.86% on the JSE.
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