Afrimat completes disposal, meets obligations of Lafarge acquisition
JSE-listed mining and construction materials company Afrimat has disposed of certain general aggregates quarries and readymix concrete plants across South Africa to investment vehicle Saturc.
The disposal price was R215-million, which includes a cash amount of R160-million and the balance of R55-million being payable over three years, subject to the fulfilment of certain financial and operational conditions.
This disposal gives full effect to Afrimat's obligations under the Competition Tribunal’s approval of Afrimat’s acquisition of Lafarge.
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