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Betfred counters Oppenheimer bid in race to rescue Phumelela

August 26, 2020

South African business news sources report that Betfred is preparing a counter-offer ranging between ZAR 875-to-925 million (€44-46m) to acquire embattled heritage wagering and racetrack operator Phumelela Gaming & Leisure. Forced to close its venues due to coronavirus restrictions last May, Johannesburg high court placed Phumelela assets under bankruptcy protection, allowing the company to seek investors to avoid outright liquidation. …

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