https://www.engineeringnews.co.za

Dawn signs nonbiding MoU for potential disposal of shares

11th July 2017

By: Samantha Herbst

Creamer Media Deputy Editor

     

Font size: - +

JSE-listed branded hardware, sanitaryware and civil products manufacturer Distribution and Warehousing Network (Dawn) has signed a nonbinding memorandum of understanding (MoU) with the controlling shareholders of Grohe Dawn Watertech (GDW) for the potential disposal of Dawn’s 49% shareholding to GDW.

If this deal is concluded, it may have a material effect on the price of Dawn’s securities, the company advised on Tuesday, adding that no price had been agreed on as yet. Dawn further noted, however, that there was no certainty that the negotiations would lead to definitive and binding agreements and, therefore, no certainty that the transaction would ultimately be concluded and implemented.

“The intention of both parties is that Dawn remains the long-term master distributor for the GDW product range in Southern Africa. It is the view of the Dawn board that this transaction would be a positive step in the turnaround process of the group,” stated Dawn.

Shareholders were advised to exercise caution in their dealings in Dawn shares until a further announcement is made.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

The Steel Tube Export Association of South Africa
Steel Tube Export Association of South Africa

The Steel Tube Export Association of South Africa was established to develop sustainable, internationally competitive carbon steel tube and pipe...

VISIT SHOWROOM 
Rentech
Rentech

Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.052 1.479s - 142pq - 2rq
Subscribe Now