R/€ = 15.88 Change: 0.00
R/$ = 14.02 Change: -0.01
Au 1322.91 $/oz Change: -18.87
Pt 822.98 $/oz Change: 1.73


Aveng names Sean Flanagan CEO

By: Mariaan Webb     20th December 2018 Construction group Aveng has appointed a former Murray & Roberts executive to lead the company from February 1, it announced on Thursday. Sean Flanagan will take up the position of CEO on February 1, taking over from interim CEO Eric Diack, who will resume his role as nonexecutive chairperson... 

Mobile laboratories use robots to teach children about sciences 

4th October 2018 The Inspired towards Science, Engineering and Technology, or I-Set, project, sponsored by petrochemicals company Sasol and facilitated by the University of South Africa, uses mobile laboratories and robotics kits to teach science to school children. Schalk Burger has the story. 

Aveng to sell rail business to Mathupha Capital for R133m

By: Terence Creamer     3rd October 2018 JSE-listed infrastructure group Aveng announced on Wednesday that it would sell its rail business to black-owned investment company Mathupha Capital for R133-million. The proposed transaction is subject to several conditions, including Competition Commission approval, but it is nevertheless... 

Aveng shareholders vote in favour of 14bn shares issue to pay off debt

By: Marleny Arnoldi     10th September 2018 Construction group Aveng’s shareholders on Monday voted in favour of the resolutions that will give effect to the specific issue of 14.5-billion Aveng ordinary shares. These shares will be issued to the company’s existing bondholders as part of a process that will see the early redemption of... 

Aveng’s early bond redemption terms finalised, shareholder approval pending

By: Marleny Arnoldi     30th August 2018 JSE-listed construction group Aveng has finalised the terms of the early bond redemption, which is now subject to final shareholder and existing convertible bondholder approval. Aveng will repurchase R657-million of existing convertible bonds, including accrued interest, for R460-million – 70%... 

M&R withdraws Aveng merger proposal

By: Anine Kilian     8th August 2018 JSE-listed Murray & Roberts (M&R) on Wednesday announced that it had withdrawn its proposal for a potential merger with Aveng. The company announced last week that it was reviewing a decision by the Takeover Special Committee (TSC) to overturn a June decision by the Takeover Regulation Panel that... 

Aveng to sell Jet Park, Vanderbijlpark properties

By: Creamer Media Reporter      2nd August 2018 Construction firm Aveng has reached agreements to sell its Jet Park and Vanderbijlpark properties for R211.2-million and R42.6-million, respectively. Aveng in February announced its decision to sell certain noncore assets and properties following a strategic review of the business. 

New twist in M&R battle as takeover body disallows further progress on Aveng tie-up

By: Terence Creamer     2nd August 2018 The protracted tussle for control of Murray & Roberts (M&R) took yet another turn this week, after the Takeover Special Committee (TSC) overturned a June decision by the Takeover Regulation Panel (TRP), allowing M&R to continue with preparations for a potential combination with Aveng, despite the... 

M&R to assess impact of ATON’s acquisition of a 25% stake in Aveng

By: Schalk Burger     6th July 2018 JSE-listed Murray & Roberts (M&R) will assess the impact of ATON’s acquisition of a 25.42% interest in JSE-listed Aveng. M&R, which is subject to a buyout offer by ATON, has launched a bid to acquire Aveng. M&R shareholders last month voted in favour of the company's independent board further... 

ATON’s mandatory offer undervalues company, M&R reiterates in circular

By: Terence Creamer     2nd July 2018 The board of engineering and construction group Murray & Roberts (M&R) has again guided shareholders not to accept ATON’s mandatory offer of R17 a share, which it argues undervalues M&R’s strategic platforms and business prospects. The board made the statement in a circular response to ATON’s... 

PIC increases shareholding in M&R to 20.41%

By: Anine Kilian     25th June 2018 Engineering and construction group Murray and Roberts (M&R) on Monday reported that the Public investment Corporation (PIC) has increased its beneficial shareholding in the company from 19.96% to 20.41%. The PIC is one of M&R’s biggest shareholders. 

M&R ‘disappointed’ about ATON’s response to proposed Aveng merger

By: Marleny Arnoldi     11th June 2018 Construction and engineering services company Murray & Roberts (M&R) has expressed its disappointment with German investment company and majority shareholder ATON, following ATON’s reaction to M&R’s interest in merging with construction engineering company Aveng.  

ATON bemoans M&R’s Competition Tribunal application

By: Marleny Arnoldi     8th June 2018 German investment company ATON says JSE-listed Murray & Roberts (M&R) has initiated another ‘frustrating action’ against its offer to acquire all shares in M&R, by trying to prevent ATON from exercising its full rights and voting against M&R’s proposed combination with construction giant Aveng.  

ATON reiterates its view on M&R’s proposed acquisition of Aveng

By: Anine Kilian     7th June 2018 Investment company ATON, which has made a mandatory offer to buy all the shares in Murray & Roberts (M&R) it does not already own, has once again reiterated it opposition to M&R’s proposed acquisition of Aveng. The company said in a statement on Thursday that the potential Aveng transaction... 

ATON questions logic of M&R’s proposed ‘poison pill’ Aveng deal

By: Terence Creamer     31st May 2018 Investment company ATON, which is preparing a mandatory offer to buy all the shares in Murray & Roberts (M&R) it does not already own, has reiterated it steadfast opposition to M&R’s proposed acquisition of Aveng, describing the proposed Aveng transaction as a “poison pill” to prevent a takeover... 

M&R says meeting set with ATON to discuss ‘highly strategic’ Aveng deal

By: Terence Creamer     30th May 2018 Murray & Roberts (M&R) confirmed on Wednesday that it would be meeting with its largest single shareholder, ATON, to discuss the merits of M&R’s proposed acquisition of Aveng, which it continues to describe as “highly strategic”. No date has been provided for the meeting, which is being pursued... 

As ATON prepares mandatory offer, M&R board says higher price still ‘undervalues’ company

By: Terence Creamer     29th May 2018 The takeover battle for engineering and construction group Murray & Roberts (M&R) by German investment company ATON intensified this week with ATON announcing its intention to make a new mandatory offer, following a Takeover Special Committee (TSC) ruling instructing ATON to withdraw its earlier... 

M&R hopes to convince ATON of commercial merits of Aveng tie-up

By: Terence Creamer     18th May 2018 Murray & Roberts (M&R) CEO Henry Laas says he will make every effort to convince its largest shareholder ATON – the German family-owned business, which owns 39% of the company and which has made a firm offer to acquire majority control of the South African engineering and construction group – of... 

Aveng subsidiary to retrench 2 863 workers - union

By: Reuters     1st February 2018 South Africa's National Union of Mineworkers (NUM) said on Thursday it had received a notice that 2,863 workers would be laid off by a subsidiary of construction firm Aveng because most of its projects were about to be completed. Work for South Africa's construction industry has slowed sharply as... 

Gamsberg zinc project a thumbs up for South Africa amid investment slowdown

By: Mia Breytenbach     20th October 2017 Amid low levels of capital project activities in South Africa, the $400-million Gamsberg zinc and lead project, in the Northern Cape, has become the largest mining project under execution in the country. “Commentators have noted that this significant investment in the South African mining... 

Renewable Energy Independent Power Producer Procurement Programme – second window, South Africa

By: Sheila Barradas     1st September 2017 An update on the Renewable Energy Independent Power Producer Procurement Programme – second window. 

Renewable Energy Independent Power Producer Procurement Programme (REIPPPP) – second window, South Africa

By: Sheila Barradas     17th March 2017 An update on the Renewable Energy Independent Power Producer Procurement Programme – second window 

Digital public-private high school celebrates ten years 

2nd March 2017 Information technology multinational Oracle last month celebrated the tenth year of the fully digital high school, which it built in partnership with the Gauteng Department of Education.  

Challenging times call for innovation

By: Robyn Wilkinson     17th February 2017 It remains imperative for companies to remain innovative, especially amid the construction industry’s facing a dilemma, with local infrastructure – including power, road, water and sewerage infrastructure – in dire need of upgrading, while very little money is being spent on civil construction... 

EDD transactions adds R10.8bn to local economy

By: Ilan Solomons     21st December 2016 Settlements concluded during the year by the Economic Development Department (EDD) has resulted in R10.8-billion being released back into the local economy. This included, among others, settlements with beer and cider giant Anheuser-Busch InBev (AB InBev), carbonated soft drink producer Coca-Cola... 

Tribunal approves Aveng’s immunity from an administrative penalty

By: Megan van Wyngaardt     27th October 2016 The Competition Tribunal has confirmed a consent agreement between construction company Aveng and the Competition Commission, which will give Aveng immunity from an administrative penalty. The matter had been delayed for the commission to make changes to the consent agreement to include some... 

Construction giants reach transformative agreement with govt 

By: Megan van Wyngaardt     11th October 2016 The South African Forum of Civil Engineering Contractors, together with national government, on Tuesday signed an agreement with several construction companies, including Wilson Bayly Holmes-Ovcon (WBHO), Aveng, Murray & Roberts, Group Five, Basil Read, Raubex and Stefanutti Stocks, to accelerate... 

Cummins launches technician training programme  

1st September 2016 Cummins Africa has added a compressed natural gas engine technician training programme to its training centre in Kelvin View, in Gauteng, to support the use of CNG in the region and the continent. Schalk Burger has the details. 

Renewable Energy Independent Power Producer Procurement Programme – second window, South Africa

By: Sheila Barradas     26th August 2016 An update in the second window of the Renewable Energy Independent Power Producer Procurement Programme. 

‘Transformational’ deal to change Aveng Grinaker-LTA’s look-and-feel, not tick BEE boxes 

By: Terence Creamer     23rd August 2016 South African construction and engineering group Aveng expects to conclude an empowerment transaction within months to further transform its Aveng Grinaker-LTA business, which is on the cusp of moving into the black for the first time since 2011. CEO Kobus Verster believes the transaction to be... 

Renewable Energy Independent Power Producer Procurement Programme – second window, South Africa

By: Sheila Barradas     22nd April 2016 An update on the Renewable Energy Independent Power Producer Procurement Programme – second window. 

Renewable Energy Independent Power Producer Procurement Programme – second window, South Africa

By: Sheila Barradas     18th March 2016 An update on the Renewable Energy Independent Power Producer Procurement Programme – second window. 

Government mulls review of law regulating construction companies

By: African News Agency      16th March 2016 Government was “itching” to do a complete overhaul of the laws governing South Africa’s construction industry which continued to be dogged by allegations of collusion, Public Works Minister Thulas Nxesi said on Tuesday. Briefing Parliament’s portfolio committee on public works, Nxesi and... 

Increased risk of massive construction lay-offs

By: News24Wire      26th November 2015 Embattled construction firms, which lost 38% of their aggregate market capitalisation in 2015, are facing more hard times, a survey showed on Thursday. The latest PwC study on the construction industry has shown that the sector is taking strain as it battles lower revenue and profit, with fewer... 

Bank concludes R1.14bn loan facility for Aveng-Collins JV

By: Zandile Mavuso     25th September 2015 Nedbank Corporate and Investment Banking (NCIB) has concluded an estimated R1.14-billion loan facility to finance a joint venture (JV) between Durban-based commercial property development company Collins and construction and infrastructure company Aveng. 

Renewable Energy Independent Power Producer Procurement Programme – second window, South Africa

By: Sheila Barradas     7th August 2015 An update on the Renewable Energy Independent Power Producer Procurement Programme –second window. 

Aveng appoints replacement for Robinson

By: Creamer Media Reporter      31st July 2015 JSE-listed Aveng has appointed McDermott International commercial senior VP Scott Cummins as CEO of its Asia and the Pacific subsidiary McConnell Dowell, effective October 1. Cummins would succeed outgoing CEO David Robinson, who was retiring this year, but would remain available to the company... 

Sishen solar photovoltaic power project, South Africa

By: Sheila Barradas     5th June 2015 Acciona’s Sishen solar photovoltaic plant has reached 100% capacity. 

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