LEADING hospitality concern Rainbow Tourism Group (RTG) has entered into an agreement to acquire Montclair Hotel for US$5 million.
The latest details on the transaction were revealed by the RTG company secretary, Tapiwa Mari Monday in a giant step which is set to see RTG scaling up to greater heights.
“The Board of Directors of RTG wishes to advise shareholders and the investing public that the Company has signed a sale and purchase agreement for the acquisition of the entire issued ordinary shares of Briolette Services (Private) Limited trading as Montclair Hotel and Casino, for a purchase consideration of US$5 million,” said.
He said the conclusion of the transaction is subject to the fulfilment of various conditions precedent…
