Peermont Seeks to Buy Minority Stake in Royal Swazi Sun, Aims to Run Hotel

Peermont Global Holdings Ltd. is part of a group bidding to buy the Royal Swazi Sun hotel chain in Swaziland, Peermont Chairman Paul Nkuna said.

“Peermont would like to manage the asset on behalf of the consortium and take a minority stake for ourselves,” Nkuna said in a mobile-phone interview today, declining to give more details on the transaction.

Sun International Ltd. Chief Executive Officer David Coutts-Trotter declined to comment when contacted on his mobile phone today. Sun International will exit Swaziland because refurbishment costs for its operations there “aren’t justifiable,” Coutts-Trotter said in an Aug. 29 interview.

To contact the reporter on this story: Sikonathi Mantshantsha in Johannesburg at smantshantsh@bloomberg.net

To contact the editor responsible for this story: Vernon Wessels at vwessels@bloomberg.net

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