million for the increased stake
South African casino company Sun International will increase its ownership of Sun Dreams, held by Chilean company Entretenimientos del Sure Limitada.
Through its subsidiary Sun Latam and fellow stakeholder Nueva Inversiones Pacifico Sur Limitada, Sun will buy a 19.3 percent stake in Sun Dreams, paying $63 million for its half of the stake, reported Reuters. Its partner’s stake will rise to 35 percent.
Sun Dreams was created last year when Sun International merged its Latin American business with Chile’s Dreams S.A. In addition to its African casinos and resorts, Sun International owns and operates casinos and hotels in Chile, Panama and Colombia.
