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Motsepe’s ARC buys 18% stake in Afrimat

23rd September 2016

By: Anine Kilian

Contributing Editor Online

  

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African Rainbow Capital (ARC), which is owned by billionaire businessperson Patrice Motsepe, has bought an 18.36% stake in JSE-listed Afrimat.

“Afrimat is of the view that this will create a long-term and sustainable black economic empowerment partner with certainty around shareholding which will build further value for Afrimat,” Afrimat CEO Andries van Heerden said on Friday.

ARC is a fully black-owned and controlled investment company focusing on businesses that deliver returns on equity, with a strategic long-term investor with no predefined exit strategy.

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Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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