|
|
Article: Aveng sells out of Holcim SA in landmark R7.4bn BEE deal.(Business Report)
- Article from:
- The Star (South Africa)
- Article date:
- April 24, 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)
|
BYLINE: Roy Cokayne
Pretoria - Aveng, South Africa's biggest construction and engineering company, will sell its entire 45.65 percent shareholding in cement producer Holcim South Africa for R7.4 billion, paving the way for South Africa's biggest black economic empowerment (BEE) transaction.
The decision took some analysts by surprise, particularly as Aveng chief executive Carl Grim has been outspoken on the proposed transaction, saying the company read about it in the press.
As recently as last week, Grim said Aveng did not have a list of all the shareholders in the BEE consortium and vowed that it would not allow an important asset such as ...