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February 24, 2009
Grindrod's R247m BEE deal to boost education
The Adopt-A-Schools Foundation, which aims to improve education infrastructure in rural areas in South Africa, has been named a key beneficiary in Grindrod's R247 million Broad Based Black Economic Empowerment deal.
Announced on Monday, the empowerment transaction will see Grindrod South Africa, a Durban-based logistics and shipping company, issue 25% plus 1 share of its operations to the Adopt-A-Schools Foundation (10%) and Calulo Petrochemicals(15%), a black-owned oil and chemicals company.
Posted by StaffWriter at February 24, 2009 8:04 AM