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October 2, 2007

BKS sells further 40% stake to black investors

Multidisciplinary engineering and management company BKS Group is now 51% black-owned, after it reached a black economic-empowerment (BEE) milestone with the sale of a 40% stake to Bacacarac Trading, a professional black empowerment group. Black staff has taken a further 11% of equity.


"The transaction is not a drive in the vacuum to attain transformation imperatives, but to enhance the company's commitment to the country's broad-based BEE," said BKS CEO Danai Magugumela.

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Posted by StaffWriter at October 2, 2007 9:20 AM