Sahara Holdings in BEE deal

September 20, 2006

Johannesburg, Sept 20 (I-Net Bridge) - Sahara Holdings has divested 27% of its shares to a newly established black economic empowerment (BEE) consortium, the mining and mineral resource group, Mvelaphanda Holdings (Pty) Ltd, local investment consortium, Afripalm Consortium and the Sahara Employees Trust Fund...

The shares are being sold for R173m. The agreement offers both Mvelaphanda Holdings (Pty) Ltd, headed by executive chairperson Tokyo Sexwale, and the Afripalm Consortium, headed by Lazarus Zim, with a 12.10% stake in the company.

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