Tatts departing from South Africa

Betting giant Tatts Group Ltd has a announced a deal with publicly listed Grand Parade Investments Ltd that will see it depart South Africa.
The company said in a statement on Monday that the sale – for SA Rands 170 million – was subject to conditions including South African regulatory approvals. South Africa’s latest national budget has significantly relaxed currency exchange regulations.
Tatts expects the transaction to be completed during the first half of calendar 2010.

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