Sun International notes Chilean offer

Sun International, the owner of South Africa’s Sun City resort, said on Thursday it will respond appropriately to a proposed 50.1% stake offer by its Chilean merger partner once there is a firm intention to make an offer or an actual offer.

On Tuesday Chilean investment firm Nueva Inversiones Pacifico Sur (IPS) proposed buying a R1.5 billion ($85.65 million) stake in the hotel and casino operator, a part-cash offer that also includes a bridge loan of up to R1.2 billion.