Sun International’s R7.3 billion [US$415 million] acquisition of Peermont has been terminated after the Competition Tribunal scheduled a long-awaited hearing too late for the deal to legally proceed, while “deal fatigue” had set in among the parties.
In an extraordinary event, the Competition Tribunal had scheduled hearings for the Sun International and Peermont deal to be heard on October 2, 2025. The Competition Tribunal is a condition precedent to the transaction, which currently has a longstop date of September 15, 2025.
“Accordingly, as the hearing date is after the regulatory longstop date, the parties have mutually agreed to the immediate termination of the Proposed Transaction,” Sun International said.
