THE Board of Directors for Taj Pamodzi Hotel have announced that Tata International Singapore Pte Ltd (TISPL), the majority shareholder in the company, has agreed to sell its controlling shareholding to ASB Hospitality at a consideration of US$18 million. The board has revealed that ASB Hospitality LLC is a subsidiary of Dubai-headquartered Albwardy Investment LLC. In an announcement made on the Lusaka Stock Market on Friday December 22, the company referred its shareholders to the cautionary announcement issued on 13th November in which the Board informed them that TISPL had received non-binding offers from other prospective buyers i.e. Protea Hotels Zambia Limited and ASB Development Limited, which were being evaluated by TISPL. “The shareholders of Pamodzi, as well as other...