South Africa: Raubex acquires stake in OMV, Shisalanga Construction
First publishedon www.AggBusiness.com
Regulatory approvals for the acquisition of controlling shares in two companies in South Africa have been secured by South Africa-based construction company Raubex.
It has bought a 70% stake in the gypsum operations and another 70% in aggregate crushing and ready-mix concrete operations of Oranje Mynbou en Vervoer (OMV) for ZAR 70.30 million (€ 4.84 million).
The acquisition will take effect from 1 July 2014. Apart from that, a 60% stake in Shisalanga Construction has been acquired by Raubex for ZAR 38.4 million. Shisalanga Construction is an asphalt products manufacturer.