Home | About | Link        Procurement Jobs | BEE News  

Join for free

Useful Links


« Outcry over Bhisho's sale of shares in bank | Main | Agencies 'wrong to deny self-rating' »

March 13, 2008

Assore in bid to boost Assmang BEE stake

ASSORE, half-owner of manganese producer Assmang, plans a R1,9bn deal with Shanduka Resources to raise its empowerment stake to 26% and bring it into line with the mining charter.

The company said yesterday that it had been exploring a new empowerment deal to increase black ownership to 26% from 15,02%. It had entered a "transaction framework agreement" for the acquisition of additional Assore shares making up about 10,98% of the total by empowerment partners Shanduka, headed by Cyril Ramaphosa, subject to conditions.

Read More

Posted by StaffWriter at March 13, 2008 8:15 AM