Raubex buys majority stakes in Shisalanga, OMV

18th June 2014 By: Natasha Odendaal - Creamer Media Senior Deputy Editor

Raubex buys majority stakes in Shisalanga, OMV

Photo by: Duane Daws

JSE-listed Raubex on Wednesday announced that it has received regulatory approvals for the acquisition of majority stakes in two companies.

The group acquired a 60% interest in Shisalanga Construction, which manufactures a range of asphalt products from its plants based in northern Kwazulu-Natal, for R38.4-million.

The acquisition was effective from June 1.

Further, it had also acquired a 70% interest in Oranje Mynbou en Vervoer’s (OMV’s) aggregate crushing and ready-mix concrete operations, near Stilfontein, as well as a 70% stake in OMV’s gypsum operations, near Potchefstroom, for R70.3-million, effective July 1.

“These acquisitions are in line with Raubex’s strategy to reinforce its vertically integrated model and are a good cultural fit for the group.

“They will extend our asphalt presence into northern KwaZulu-Natal, while providing Raumix with a footprint in the North West and northern Free State,” said Raubex CEO Rudolf Fourie.