RAINBOW Tourism Group (RTG) says it has signed a sale and purchase agreement to acquire the entire issued ordinary shares of Briolette Services, which operates the Montclair Hotel and Casino in Nyanga.
The purchase consideration for the transaction is set at US$5 million. The completion of this transaction is contingent upon the fulfillment of various conditions precedent.
The company is currently undertaking the necessary processes to finalise and execute the sale and purchase agreement, ensuring that all conditions are met.