Ethos Private Equity and Goldman Sachs’ R11.4 billion ($1.5 billion; €1.1 billion) offer for Gold Reef Resorts may need to be extended following a complaint by a rival bidder, according to someone close to the bid.
The bid has been delayed by a formal complaint lodged by the gambling group Tsogo Sun with the country’s gambling regulator citing irregularities in the bid process.
