South Africa's Tsogo Sun to sell hotel properties

November 18, 2015 8:33 AM

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JOHANNESBURG Nov 18 Tsogo Sun, Africa's biggest hotel and gambling firm, will sell 10 hotel properties to Hospitality Property Fund in exchange for shares, the two companies said on Wednesday.

The deal, which is agreed in principle, will increase Tsogo's stake in Hospitality to more than 50 percent from 27 percent.

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