UK bookmaker Betfred has made an offer of between R875 million and R925 million for the entire Phumelela business. Phumelela creditors are expected to vote on the business rescue plan on September 1, the same day the Betfred offer lapses. UK bookmaker Betfred have made an offer of up to R925 million for all the assets of embattled betting and horse racing company Phumelela Gaming & Leisure, which is undergoing business rescue. On the wrong trackPhumelela, Africa's largest horse racing group, filed for business rescue in May. The Betfred offer comes after the Mary Oppenheimer Daughters (MOD) fund provisionally acquired some Phumelela businesses.

Source: News 24 August 26, 2020 14:31 UTC