https://www.engineeringnews.co.za

Pembani, Shanduka merger nears close

Pembani chairperson Phuthuma Nhleko

Pembani chairperson Phuthuma Nhleko

Photo by Duane Daws

1st June 2015

By: Natalie Greve

Creamer Media Contributing Editor Online

  

Font size: - +

JOHANNESBURG (miningweekly.com) – Shareholders of Pembani and empowerment group Shanduka have signed the transaction agreements and submitted the requisite regulatory filings related to the merger of the two companies to form a black-controlled natural resources and industrial group.

The completion of the transaction remained subject to the required regulatory approvals and consents being obtained and the finalisation of ancillary transaction documents.

The newly formed group would have a portfolio valued in excess of R9-billion and be led by Pembani cofounder and chairperson Phuthuma Nhleko.

Its assets would include interests in petrochemical group Engen, concrete manufacturer AfriSam, minerals company Shanduka Resources and banking groups Standard Bank and the Liberty Group.

As a result of his divestment from Shanduka, which was announced in November last year, Shanduka founder and Deputy President Cyril Ramaphosa would not have any shareholding or any direct or indirect commercial interests in the group.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Multotec
Multotec

Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...

VISIT SHOWROOM 
Environmental Assurance (Pty) Ltd.
Environmental Assurance (Pty) Ltd.

ENVASS is a customer and solutions-driven environmental consultancy with established divisions, serviced by highly qualified and experienced...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.203 0.266s - 156pq - 2rq
Subscribe Now