RDC set to acquire new lodge in Zambia

RDC Properties acquisition of the David Livingstone Safari Lodge is at an advanced stage and awaits approval by Zambian Competition Authorities. The Group Executive Chairman, Guido Giachetti revealed that legal agreements are being concluded with the Development Bank of Southern Africa for the assignment of their debt at a substantial discount and the acquisition of the 100 percent shareholding from the owners. “The transaction will be conditional on the approval of the Zambian Competition Authorities.” According to a statement, Union Gold will be co- investing with RDC Properties in this venture ( 50 percent). The Group has extensive experience of owning and managing hotels ( nine Marriott Hotels) and construction companies in Zambia