It was working with the Grand Parade board to make significant enhancements to the listing proposal to find favour with the JSE. "On the casino side, Grand West has opened a smoking casino and we think that is going to grow that business quite nicely as well." http://www.busrep.co.za/index.php?fSectionId=563&fArticleId=3917585 I have also heard that GPI will have a very bad time trying to list on it's own, due t SunWest(one of GPI's main shareholders), which also is held by SunInt not wanting this. I can't see GPI winning the fight to list, that they have already lost. I think it is very likely that a announcement by CAE to GPI holders will be made soon.
I think if it goes through at R30, the GPI's PE at year end with respect to this deal will be around the JSE's average, GPI's PE should be higher than the JSE, due to the strong and stable growth expected through GPI, in 2008 year end GPI may be valued above R50, imo. Also with such a low PE and so low in trend, i strongly doubt, CAE could break it's uptrend, people will realise this more and more, this is why this is my largest & most stress free holding.