Southern Sun, a leading hospitality group, is increasing its presence in Johannesburg’s Sandton business district with a R735 million investment. The company announced , that it will acquire a 50% stake in four properties currently owned by Liberty Group.
The deal encompasses a half-share in a portfolio of iconic Sandton properties, though the specific names of these properties were not disclosed in available reports. This move signals Southern Sun’s confidence in the continued strength of Sandton as a key business and tourism hub. The investment is being made entirely in cash, according to the company’s statement.
The transaction also involves the Public Investment Corporation (PIC), which is partnering with Southern Sun on the acquisition. While the exact ownership split between Southern Sun and the PIC wasn’t detailed, the combined investment totals R1.1 billion, suggesting Liberty Group retains a 50% stake in the properties following the transaction. Business Tech reported the total value of the properties as R1.1 billion.
This investment comes as the hospitality sector continues to recover and adapt to changing travel patterns. Southern Sun’s move to strengthen its foothold in Sandton suggests a belief in the long-term viability of the area’s premium hotel and property market. Pareto and Southern Sun are also working to strengthen their hold on Sandton hospitality, according to Business Day.
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In Washington, the House of Representatives voted to reopen the U.S. Government, sending a bill to President Trump for his signature. This resolution to the government shutdown provides a degree of stability, though the underlying fiscal challenges remain.
Elsewhere in the corporate world, Disney announced that Josh D’Amaro, currently the head of Disney’s parks division, will succeed Bob Iger as CEO, effective March 18. This leadership transition occurs as Disney demonstrates strong momentum, particularly within its parks and resorts business.
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The real estate sector is showing mixed signals. While overall commercial real estate deal volume decreased in December, office properties are surprisingly demonstrating resilience. Camden CEO is reporting significant investor demand for apartment buildings. Lennar shares jumped on reports that the company is developing “Trump Homes,” a potential indicator of shifting strategies within the housing market.
Several other companies reported earnings or announced significant developments. Nvidia’s CEO, Jensen Huang, denied rumors of a deal with OpenAI. Novo Nordisk shares tumbled after the company warned of a sales hit this year. Aviation automation firm Skyryse achieved a valuation exceeding $1 billion in its latest funding round. Bahama Breeze is closing all of its restaurants.
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