https://www.engineeringnews.co.za
Africa|Design|Financial|Industrial|Mining|Power|PROJECT|rail|Water
Africa|Design|Financial|Industrial|Mining|Power|PROJECT|rail|Water
africa|design|financial|industrial|mining|power|project|rail|water

M&R completes disposal of its interest in Bombela

4th April 2023

By: Tasneem Bulbulia

Senior Contributing Editor Online

     

Font size: - +

JSE-listed Murray & Roberts (M&R) has completed the disposal of its entire interest in the Bombela Concession Company (BCC) to a wholly owned subsidiary of Intertoll International.

At a general meeting of M&R shareholders held on February 20, shareholders overwhelmingly voted in favour of the transaction, the group says.

All conditions precedent in respect of the transaction have now been fulfilled and/or waived and the transaction has reached financial close.

As stated in the transaction circular published by M&R, the proceeds from the transaction of R1.26-billion will be used to repay debt, following which the group’s total debt will reduce to R1.39-billion.

The group says it continues to focus on cash generation through operational performance, cost reduction and managing working capital prudently.

It adds that it remains optimistic about the prospects for its multinational Mining platform and Africa-focused Power, Industrial and Water platform.

BCC was, in 2006, appointed by the Gauteng provincial government to design, build, operate, maintain and partially finance the Gautrain rapid rail project. 

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

GreaseMax
GreaseMax

GreaseMax is a chemically operated automatic lubricator.

VISIT SHOWROOM 
Victaulic
Victaulic

Since 1919, Victaulic’s innovative solutions and design services continue to increase construction productivity and reduce risk, ensuring projects...

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







sq:1.203 1.321s - 191pq - 2rq
Subscribe Now