New Mauritius Hotels (NMH), which operates the Beachcomber Resorts & Hotels brand, has signed an agreement to acquire Zuri Zanzibar for approximately US$79 million (R1,2 billion).
The share purchase agreement, signed on June 23, covers the acquisition of all shares in White Sands Beach Resorts Limited, the company that owns the Zuri Zanzibar beachfront property. The acquisition is subject to the fulfilment of certain conditions and the necessary regulatory approvals set out in the share purchase agreement.
Last year, NMH announced its intention to acquire the resort, which would operate under the Beachcomber brand if the transaction materialised.
