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Article: Swiss-owned Holcim uses SA policy for competitive clout.(Business Report)
- Article from:
- The Star (South Africa)
- Article date:
- May 3, 2007
CopyrightCOPYRIGHT 2007 Independent News & Media PLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BYLINE: Sello Rasethaba
Black business bestowed a BEE Deal of the Year Award to Holcim International for selling a majority stake to the Afrisam consortium.
Business Report reported last week that Aveng, South Africa's biggest construction and engineering company, would sell its entire 45.65 percent shareholding in cement producer Holcim SA for R7.4 billion, paving the way for the country's biggest black economic empowerment (BEE) transaction.
The decision took some analysts by surprise, particularly as Aveng's chief executive, Carl Grim, has been an outspoken critic of the Holcim-AfriSam transaction, saying the company would not allow an ...