Dubai firm buys Meikles Hotel operations for US$20 million

ZIMBABWE – Dubai-based Albwardy Investments is set take full control of Meikles Hotel operations after buying the iconic facility for US$20 million. The deal, which has been on the radar for years, was effectively concluded after more than 70% of shareholders of Meikles Limited backed the resolution relating to the sale of the hotel to Albwardy Investments, at an extra-ordinary general meeting held in December 2019 in Harare. The deal has also been ratified by the Competition and Tariff Commission as well as exchange control authorities in Zimbabwe. “The directors…

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