« R130m BEE deal for Innovation | Main | BEE boss sued for R21m »
May 30, 2007
Tribunal's approval opens way for R14bn Holcim BEE deal
The black-controlled Afrisam Consortium (ASC) received unconditional approval from the Competition Tribunal on Thursday for its proposed acquisition of the majority interest in cement group Holcim South Africa – tribunal approval was effectively the last condition precedent for the conclusion of the R14-billion transaction...
The other major milestone was achieved earlier this week when shareholders in JSE-listed steel and construction group Aveng, which owned 46,65% of Holcim South Africa, approved the sale of the group’s holding to the consortium for R7,4-billion. The motion was passed at a general meeting on Monday morning, with 99,97% voting in favour of the sale. Nearly 80% of all Aveng shareholders, or their proxies, voted.
If a link does not open, right click on it and select "open in a new window"What do you think about this article? You can air your views in the space provided below.
Posted by bernievn at May 30, 2007 7:25 AM