Latin America deal boosts Sun International
Hotel and casino operator Sun International has won approval for the merger of its Latin American assets with Dreams SA.
The deal expands Sun International’s operations in Chile, Panama, Colombia and Peru, giving it “significant scale,” said De Wet Schutte, an analyst at Avior Capital Markets in Cape Town, Bloomberg reported.
The combination creates Sun Dreams, a business that will “have the profile, critical mass and balance sheet to expand to the rest of the continent, make meaningful acquisitions and take on larger projects,” Johannesburg-based Sun International said in a June 1 statement.
“The merger should also unlock synergies between the combined Chilean properties as a result of its scale.”