The requisite majority of Basil Read shareholders on Friday approved the disposal of TWP Holdings to WorleyParsons South Africa for R900-million in cash.
The deal excluded 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.
The remaining outstanding conditions precedent had now been fulfilled and the proposed transaction was deemed unconditional.