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Jasco’s disposal of M-Tec concluded

2nd November 2016

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

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Community Investment Holdings subsidiary Malesela Holdings has paid the final balance due for its acquisition of Jasco Cables’ 51.1% shareholding in Malesela Taihan Electric Cable (M-Tec), JSE-listed Jasco said on Wednesday.

The R60-million transaction was concluded this week after Malesela paid the R40-million balance.

The first R20-million tranche was received by Jasco in May after all outstanding conditions precedent were fulfilled in March.

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Edited by Creamer Media Reporter

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