21 April 2017

Rajiv Servansingh: The Rogers-Sunnystars-NMH Saga

What can be termed the New Mauritius Hotels (NMH) Saga has been making the headlines in the financial press for some time now. This is an important event for the local business community not only because of its huge financial implications for the parties involved (especially for the Rogers Group) but also because it offers an opportunity to clarify some highly technical and legal aspects of our Securities Act of 2005 and the Securities (Takeover) Act of 2010. The outcome of the investigation being led by Mr Kriti Taukoordass, appointed by the FSC to inquire into the matter, could also have serious consequences to which we shall come later in our comments.

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