JOHANNESBURG (miningweekly.com) – The sale of JSE-listed WG Wearne’s Brandvlei Sand Quarry and its ancillary business to Elcu Pumps has been declared fair by BDO Corporate Finance, WG Wearne said on Thursday.
The companies in April entered into the R7-million transaction, which forms part of WG Wearne’s restructuring plan to sell noncore assets, aimed at improving its liquidity and solvency.
WG Wearne will use the proceeds to reduce its debt.