South African construction firm Basil Read on Wednesday said nearly all conditions precedent related to the sale of TWP to WorleyParsons South Africa for R900-million had been met.
The only outstanding condition was the approval of the deal by Basil Read shareholders, who were expected to vote on the matter on March 8.
Basil Read announced in October last year that it would sell TWP to WorleyParsons.
The deal excludes Basil Read Matomo Projects, TWP Investments and LYT Architecture, formerly known as TPS.P Architects, which would all continue to operate as wholly owned subsidiaries of Basil Read.