Tuesday, November 08, 2005

Black investors buy into Sun City

The owners of gambling resort Sun City - which became a symbol of apartheid-era repression - is seeking to bury its past by drafting in black shareholders. Reuters quotes Sun International as saying it has agreed to sell a seven percent stake to a consortium of black investors called Dinokana Investments Ltd, led by investment firm Lereko Investments, and Sun International staff and community groups. The deal is worth 604-million rand. Lereko is led by former North West province premier Popo Molefe and former Tourism Minister Valli Moosa.

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