HomeBusiness

CTC Approves The Sale Of Meikles Hotel

5 years agoSun, 23 Jun 2019 01:11:03 GMT
Share on FacebookShare on TwitterShare on LinkedIn
CTC Approves The Sale Of Meikles Hotel

The Competition and Tariff Commission (CTC) has approved the sale of Zimbabwe’s renowned five-star hotel, Meikles Hotel.

Meikles is set to be acquired by Albwardy Investment, a Dubai-based entity through its firm ASB Hospitality Zimbabwe Ltd. CTC said in a statement:

The merger will not lead to the acquisition of market power and the removal of an efficient competitor.

Meikles revealed in a statement two weeks ago that talks to dispose of some of its assets were ongoing;

Further to the cautionary statement published in the Press on February 22, 2019, and subsequent updates on March 20, 2019; April 12, 2019, and May 2, 2019, the directors of Meikles Limited wish to advise shareholders that discussion to sell certain of its hospitality assets are on-going.

Buy Samsung, itel, Redmi smartphones in Zimbabwe

WhatsApp: +263715068543

The company will be seeking the approval of its shareholders for the proposed disposal at an extraordinary general meeting to be convened at a future date.

A Sunday Mail report claims that its sources have revealed that the deal is worth US$20 million.

More: The Sunday Mail

Tags

0 Comments

Leave a Comment


Generate a Whatsapp Message

Buy Phones on Credit.

More Deals
Feedback