Chile's Nueva Inversiones Pacifico Sur (IPS) has made a proposal to Sun International to buy 50.1% of the South African hotel and casino operator for 22 rand ($1.27) a share, it said on Wednesday.
The proposed offer also includes an interim liquidity support in the form of a bridge loan of up to 1.2 billion rand to Sun International, the firm said in a statement.
($1 = 17.3083 rand)
(Reporting by Nqobile Dludla)
