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April 2, 2008

VR Laser Services gets a BEE partner

STEEL products company VR Laser Services had taken on an empowerment partner, Benny Jiyane, whose 30%, or R81m, stake in the company was being financed by Standard Bank, it said yesterday.

After the deal, valuing VR Laser Services at R270m excluding its US operation, the local business will be 30% owned by Jiyane, 35% by Gary Bloxham and 35% by VR Steel.

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Posted by StaffWriter at April 2, 2008 10:18 AM