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Sun pays Peermont $43mln fee in collapsed deal

Following South Africa’s Competition Commission recommendation to prohibit Sun International’s planned acquisition of Peermont Group, Sun International will pay the casino operator $42.8 million. Payment had been agreed in the event of the deal failing and operations at Menlyn Maine, Sun International’s new leisure complex in Pretoria, had begun. Peermont is owned by a number of investors including the Mineworkers Investment Company, which led a consortium of management and community trusts in a buy-out of Peermont in 2007.

Read more at Bloomberg…

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