Gold Reef agrees to BEE deal

March 9, 2007

South African casino and hotel operator Gold Reef has agreed a R640m deal to give black investors a 25.1% stake in the company, the firm said on Friday...

Gold Reef, which owns the popular Gold Reef City resort in Johannesburg, said it would buy out black investors who own stakes in its individual casinos using mostly Gold Field shares plus a small portion of cash to cover costs.

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