Group Five sells African construction businesses
The business rescue practitioners (BRPs) of embattled construction company Group Five on Monday announced the successful sale of the Group Five Projects business to the Teichmann Group.
The transaction includes various of Group Five’s African construction businesses, which are market leaders in the structural, mechanical, electrical, instrumentation and piping construction industries throughout Africa.
The transaction includes all assets, including the construction plant and equipment in these locations.
An existing construction project at a mine in Zambia will still be completed by Group Five, as will a project in South Africa.
“The new entity will be branded as T3 Projects. The team’s record in Africa has ensured the effective and efficient delivery of construction projects in the mining and industrial sectors across the continent, which will complement the Teichmann Group’s existing product offering,” Group Five said in a statement.
Group Five’s BRPs in May announced that they would start with a series of disposals to reduce financial liabilities as part of the company’s business rescue proceedings.
The group filed for business rescue in mid-March.
Comments
The
functionality
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation