HOTELIER African Sun says it will go ahead with the disposal of several assets considered not essential to its future strategic focus as part of its capital raising initiatives to finance other growth areas.
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This comes after the group last month agreed a cumulative US$7 million deal with TD Hotels & Leisure for the disposal of its underperforming assets, the Great Zimbabwe Hotel for US$4,45 million and Beitbridge Express Hotel, which has been shut down since 2016 for US$2,5 million.
The deal was classified as a “category 3” transaction, which is ordinarily deemed not big enough to seek shareholder ap
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