Jan. 30 (Bloomberg) -- Shares of Peermont Global Ltd., a South African casino operator, climbed the most in more than two months after the company said it may be bought by a group led by London & Regional Properties.

London & Regional and its partners may offer a ``more favorable'' bid than the 4.26 billion-rand ($580 million) offer from a South African group led by Mineworkers Investment Co., Johannesburg-based Peermont said yesterday.

South African companies that depend on consumer spending and borrowing have attracted investors looking to benefit from a surging economy. Spending has also been boosted as millions of black South Africans entered the mainstream economy after being excluded during apartheid, which ended in 1994.

Peermont stock added 90 cents, or 7.1 percent, to 13.50 rand in Johannesburg today. The gain was the biggest since Nov. 21 and raised the company's market value to 4.5 billion rand. Earlier, the shares jumped to their highest since trading began in September 2004. They have climbed 43 percent in six months.

Peermont said Nov. 21 the Mineworkers offer was worth 12.90 rand a share and had received irrevocable undertakings of support from 73 percent of shareholders.

London & Regional agreed in September, as part of a group that includes Istithmar PJSC, an investment firm owned by Dubai's ruling al-Maktoum family, to pay $1 billion for the Victoria & Alfred Waterfront shopping mall in Cape Town, the biggest-ever South African property transaction.

To contact the reporter on this story: Godfrey Mutizwa in Johannesburg at gmutizwa@bloomberg.net; Lukanyo Mnyanda in Johannesburg at lmnyanda@bloomberg.net

Last Updated: January 30, 2007 10:27 EST