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SUN INTERNATIONAL TO RESTRUCTURE, CHANGE NAME

Jul 7, 2001 8:41 PM

Sun International Hotels announced a shareholder restructuring in which its majority investor, Sun International Investments Ltd., will be dissolved.

The three members of the limited partnership, including Chairman and CEO Sol Kerzner, will now hold their shares directly.

The restructuring will require the company to change its name within a year. Other changes include: the float in Sun’s stock will increase from 4 million to 6 million; and the company can expand its holdings beyond South Africa, using the Sun International name.