https://www.engineeringnews.co.za
Construction|Exploration|Mining|Resources
Construction|Exploration|Mining|Resources
construction|exploration|mining|resources

Raubex initiates full takeover of Bauba Resources

3rd February 2022

By: Marleny Arnoldi

Deputy Editor Online

     

Font size: - +

JSE-listed construction group Raubex has acquired a further 24.7% shareholding in fellow-listed Bauba Resources at a price of 36c a share.

Raubex now owns 51% of the diversified mining and exploration company.

The sellers comprised of Absalom Limited, the Dunkeld Trust, the Kumane Trust and Tomarnic Limited.

Moreover, Raubex has made an offer to Bauba shareholders to acquire the remaining shares – except for the 22% stake owned by concert party Pelagic – in the company, at a price of 42c apiece, constituting a full takeover of the company.

The offer will open for acceptances on March 2.

Raubex plans to delist the shares of Bauba from the JSE.

According to Raubex, investing in mining companies better positions the group to secure long-term contracts at new mines.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Latest News

South African bank notes
Rand gains on stronger PMI data
Updated 2 hours 9 minutes ago By: Reuters

Showroom

Environmental Assurance (Pty) Ltd.
Environmental Assurance (Pty) Ltd.

ENVASS is a customer and solutions-driven environmental consultancy with established divisions, serviced by highly qualified and experienced...

VISIT SHOWROOM 
Flameblock
Flameblock

FlameBlock is a proudly South African company that engineers, manufactures and supplies fire intumescent and retardant products to the fire...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 03 May 2024
Magazine round up | 03 May 2024
3rd May 2024

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







sq:0.236 0.29s - 151pq - 2rq
Subscribe Now