Italtile BEE deal to test Companies Act

May 13, 2007

JSE-listed ceramic tiles retailer Italtile’s sale of 10,7% of its equity is likely to be the first test case under an amendment to the Companies Act, a market commentator said..

Italtile said yesterday that it would sell the shares for R400m to empowerment groupings that include trust-based beneficiaries as well as Italtile staff.

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