“The parties have agreed that they will continue to consider a potential merger which may result in a transaction at a later stage, in which event shareholders will be advised accordingly,” it said.
The sale of a 14.94% share in Sun Dreams to Pacifico has also been delayed. The transaction would see both companies holding a 50% share in Sun Dreams.
“Shareholders are advised that to date the parties have not yet received approval for the proposed disposal from the Superintendencia De Casinos De Juego, the casino regulator in Chile, by the long-stop date of October 31 2019,” Sun International said.
“Sun International is engaging with Pacifico regarding an extension to this date,” the company added.
Sun International currently owns 64.94% of Sun Dreams with Pacifico owning 35.06%.
Source: GMB / G3 Newswire
