Specialist engineering and contracting group Murray & Roberts’ (M&R’s) wholly-owned subsidiary M&R Limited (MRL) has entered into a sale and purchase agreement with Intertoll International Holdings or its nominee entity to dispose of its entire interest in the Bombela Concession Company (BCC) for up to R1.4-billion. In terms of the sale and purchase agreement, MRL will dispose of 3.3-million ordinary shares in BCC, constituting 33% of the entire issued ordinary share capital of BCC; and all of the issued ordinary shares in M&R BCC Financing Company – the sole shareholder of M&R BCC Holdco Company which, in turn, holds 1.7-million ordinary shares in BCC, constituting 17% of the entire issued ordinary share capital of BCC – for a total purchase consideration of up to R1.4-billion.
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