Sun International terminates Peermont Holdings acquisition

Sun International (JSE:SUI) announced the termination of its proposed transaction to acquire Peermont Holdings Proprietary Limited, a deal initially announced on December 18, 2023. The decision follows a protracted review process by the Competition Tribunal, which was scheduled to hold its hearing on October 2, 2025, after the regulatory longstop date of September 15, 2025. The Competition Commission had previously recommended the transaction be prohibited under section 14A of the Competition Act. With the hearing date falling after the regulatory longstop date, both parties mutually agreed to terminate the proposed transaction. Nedbank Corporate and Investment Banking acted as Investment Bank, Corporate Advisor and Transaction Sponsor to Sun International.