Commuter transport company Hosken Passenger Logistics and Rail is in early stage negotiations to buy out the remaining shareholders of Sibanye Bus Services and Table Bay Area Rapid Transport (TBRT) in the Western Cape.
Golden Arrow Bus Services, a wholly owned subsidiary of JSE-listed Hosken, currently holds one third of the issued shares of Sibanye and 50.06% of the issued shares in TBRT.
TBRT operates some trunk routes of the MyCiTi service.
Hosken said in a statement on Wednesday that should the acquisitions proceed and the purchase amounts be aggregated, the acquisitions would qualify as a category two transaction in terms of JSE listing rules.
“While negotiations are still at an early stage and the acquisition of some or all of these shareholdings may not proceed, the company nevertheless considers it prudent to inform shareholders of the potential transaction,” it stated.