Takeover of Mauritius Casinos by foreign investors

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Potential foreign investors visited the country’s four casinos (Grand-Baie, Caudan, Domaine les Pailles and Curepipe) around mid-December. They submitted a list of proposals to CLC.

The talks between the ‘Transaction Advisor’ (namely the firm KPMG), the State Investment Corporation (SIC) and representatives of international companies specializing in the field of gambling are taking another turn. It is now the ‘short-listed’ foreign investors who present their requests. The companies have served their financial offers and have also submitted a number of proposals for the purchase of shares of Casinos de Maurice with the Transaction Advisor.

‘Package’

The proposals, says a source very familiar with the matter, are being carefully studied by senior SIC executives and the Transaction Advisor. “Each potential buyer submitted their list containing very specific conditions. But it’s all about the ‘package’. We will, of course, make a comparison when negotiations are started with foreign investors, ”we make it clear. According to information, “the well-being and professional stability of the employees of the Casinos of Mauritius will be at the center of the negotiations”.

Investor requirement

The SIC expected the talks to be finalized around mid-January.

“But the turnaround has made the discussions take longer. The companies have presented a list of requirements (Editor’s note: such as the placement of their equipment in casinos, among others) to the SIC. We cannot accept everything. This is the reason why negotiations will be initiated in the days to come. There are conditions that are beyond the reach of the SIC and only the authorities can make the necessary decisions, “

– said the management of the SIC in a telephone statement on Friday morning.

South African and New Zealand firm

Le Défi Plus is in the presence of information according to which a South African firm and a New Zealander, specialized in the field of gambling, would be interested in the acquisition of Casinos de Maurice. The two companies would have been ‘short-listed’ by the ‘Transaction Advisor’. The management of the SIC gave no indication on this subject. “The file is still at the level of the ‘Transaction Advisor’ and we are not able to give you any details”, it is underlined. What about the number of companies that have been ‘short-listed’? “The SIC cannot circulate this information. All we can tell you is that a small list of international companies specializing in gaming and entertainment have been targeted. Without more ”, indicates the SIC.

The best offer

The management of the organization also specifies that “everything is done to get the best ‘deal’” because there is “the interest of the employees of the Casinos of Mauritius which must be taken into consideration by the buyers”. “Negotiations become complex and it takes time. But the fact that the companies are ready to consider the proposals of the SIC is a good thing”, adds the management of the SIC.

Source: mauritiushindinews.com