Proposed Peermont acquisition on CCA desk

Competition and Consumer Authority ( CCA) is assessing the proposed acquisition of entire shareholding of Peermont Holdings by Sun International South Africa ( SISA) Limited. Peermont conducts business in Botswana solely through Peermont Global Botswana Limited ( PGB), which is indirectly 60 percent Peermont and 40 percent by Botswana Development Corporation Limited ( BDC). Peermont is a company incorporated in accordance with the laws of the Republic of South Africa. Peermont is jointly controlled by GoldenTree Asset Management Lux S. a. r. l.

SISA is a wholly owned subsidiary of Sun International Limited ( SIL), a company incorporated in accordance with the Laws of South Africa. SIL is a listed company whose shares are actively traded on the Johannesburg Stock Exchange and is not controlled by any enterprise. SIL and its subsidiaries, including SISA do not directly or indirectly control any of their enterprises in Botswana. Some of the enterprises which SISA controls are South African companies that operate casinos, an online gambling platform, hotels and casino resorts. SISA has no presence or activities in Botswana. CCA stated that it seeks any stakeholder views for or against the proposed merger. “According to section 50 ( 3) of the Competition Act 2018, any person, including a third party, not a party to the proposed merger, may voluntarily submit to the inspector or the Authority any document, affidavit, statement or other relevant information in respect of a proposed merger.” PGB owns and operates various properties in Botswana, including casinos, short- term accommodation offerings ( hotels) and a convention centre. In Gaborone, PGB operates the Grand Palm Hotel Casino Convention Resort ( The Grand Palm) and The Peermont Mondior. In Francistown, PGB operates the Sedibeng Hotel and Casino.