JSE-listed engineering and construction group Murray & Roberts (M&R) has completed the acquisition of a further 17% shareholding in the Bombela Concession Company (BCC) for a total consideration of R405-million.
BCC is a special-purpose vehicle that was appointed in 2006 by the Gauteng provincial government for the design, partial financing, build, operation and maintenance of the Gautrain Rapid Rail Link, which operates in Gauteng, South Africa.
“This acquisition was undertaken as part of Murray & Roberts’ broader capital allocation strategy. BCC holds the 15-year concession for operating and maintaining the Gautrain system until March 2026 and we expect our investment will continue to provide strong returns in the short to medium term,” said M&R CEO Henry Laas in a statement published on Friday.