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October 15, 2007

Sun International sells SunWest stake

Sun International, South Africa's biggest casino and hotel operator, said on Monday it had sold 6.5 percent in its SunWest unit to a black economic empowerment (BEE) firm for 231 million rand.

The BEE group, Grand Parade Investments (GPI), would also have an option to subscribe for a further 5 percent of SunWest by June 2010, Sun International said in a statement.

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Posted by StaffWriter at October 15, 2007 12:30 PM