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Dubai firm takes over Meikles Hotel operations
Fidelity Mhlanga ·
DUBAI-based Albwardy Investments will with effect from this Sunday 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 last December in Harare.
The deal has also been ratified by the Competition and Tariff Commission as well as exchange control authorities in Zimbabwe.
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