A right royal saga

Finweek English Edition - - COMPANIES&MARKETS -

FOR­GIVE Th­eS­PEC­ta­cle for think­ing QUEENS­GATE had shuf­fled off into the sun­set af­ter a rather des­per­ate at­tempt to in­ject prop­erty as­sets be­long­ing to the con­tro­ver­sial Real­cor group into the smoul­der­ing ru­ins of this ho­tels and leisure group. The lat­est res­cue ef­fort in­volves ac­quir­ing (pre­sum­ably ho­tel) as­sets from Mau­ri­tius-listed Dale Cap­i­tal Part­ners, whose as­so­ciate com­pany – Dale Pri­vate Equity – is one of the main share­hold­ers in Queens­gate.

Dale’s web­site shows the Shel­ley Point Ho­tel, near Pringle Bay in the West­ern Cape, as its main­stay leisure as­set. Nice, but not ter­ri­bly in­spir­ing. Th­eS­PEC­ta­cle is not go­ing to hold its breath on this one…

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