Afrimat makes offer to acquire 50.4% of Infrasors
JSE-listed construction materials company Afrimat on Friday announced that it had made an offer to acquire 50.4% of Infrasors Holdings from Hanchurch Asset Management and a number of retiring Infrasors managers, which had been accepted by the sellers.
The proposed transaction would grant Afrimat control of Infrasors.
Infrasors is a South African resources group, active in the mining and beneficiation of minerals used in the industrial, metallurgical, mining and construction sectors.
Infrasors was initially listed on the AltX market of the JSE in April 2007, but transferred to the main board in February 2010.
Infrasors’ mining interests include the Lyttelton Centurion dolomite mine, the Marble Hall limestone mine, and the Delf alluvial silica sand operation.
Afrimat said the transaction had been unconditionally approved by the Competition Commission on October 24, 2012. The finalisation of the acquisition would be subject to approval by Afrimat's board of directors and the JSE, among others.
Afrimat offered 35 cents a share for Infrasors and would settle the purchase price in cash upon implementation of the transaction.
Afrimat said the acquisition would “complement and augment” its industrial minerals and aggregates product offerings and further expand its geographical footprint across South Africa. It would especially grow its foothold in the industrial minerals and aggregates markets in the northern provinces, negating the need to create more capacity to service these markets.
The company said its intention was to take control of the Infrasors board and to implement its management practices and business processes throughout the group.
Comments
Research Reports
Projects
Latest Multimedia
Showroom
Weir is a global leader in mining technology. We recognise that our planet’s future depends on the transition to renewable energy, and that...
VISIT SHOWROOM
We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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
