https://www.engineeringnews.co.za

M&R plans to hike stake in BCC by end November

2nd November 2017

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

     

Font size: - +

JSE-listed Murray & Roberts (M&R) expects to wrap up the R405-million acquisition of an additional 17% stake in the Bombela Concession Company (BCC) by the end of November.

In August, M&R secured a memorandum of understanding that would see the construction giant increase its effective shareholding in BCC from the current 33% to 50% through the acquisition of shares from shareholders Bouygues Travaux and Bombardier Transportation UK.

Bouygues and Bombardier agreed to sell 8.5% each to M&R following the settlement of the development period disputes in December 2016.

The commercial terms of the proposed transaction have been agreed and agreements are in the process of being finalised.

The deal remains subject to BCC lenders’ and regulatory approvals, besides others.

“We expect this low-risk investment in BCC to continue providing strong returns,” M&R said in a business update on Thursday.

BCC holds the 15-year concession for operating and maintaining the Gautrain system until March 2026.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

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

Showroom

Industrial Nozzles & Systems (Pty) Ltd
Industrial Nozzles & Systems (Pty) Ltd

Industrial Nozzles & Systems (Pty) Ltd (Est. 2000) exclusive representative in Southern Africa for LECHLER GmbH (Est. 1879) - Europe's leading...

VISIT SHOWROOM 
ATI Systems
ATI Systems

ATI systems comprises five divisions: electrical assemblies, drives and controls, feedback sensors, enclosures, and strip guiding.

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:0.053 0.867s - 122pq - 2rq
Subscribe Now