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July 7, 2008

Absa acquires Gautrain stake

Financial services provider Absa Capital Infrastructure Equity Investments (IEI) has bought an 8% shareholding in the Gautrain rapid-rail project and funded a further 8% shareholding acquired by black economic-empowered (BEE) investment and management company, the J&J Group, the bank announced on Monday.

The funding of the 8% acquisition by the J&J Group would increase the BEE shareholding in the Bombela Concession Company, which held the 20-year concession for the design, build, part-finance, operation and maintenance of the R25-billion project.

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Posted by StaffWriter at July 7, 2008 12:55 PM