JSE-listed construction and engineering group Aveng is to explore a potential listing of its infrastructure and building business McConnell Dowell on the Australian Securities Exchange (ASX) and JSE, but the fate of its South African-based open cast African mining contractors Moolmans is less clear.
Scott Cummins, the new CEO of Aveng, said Aveng Limited, the holding company, will "explore alternative ownership options and potentially introduce B-BBEE (broad-based black economic empowerment) capital" into Moolmans.
Cummins was guarded in his comments to Moneyweb on whether this meant Aveng could potentially fully dispose of Moolmans or whether it planned to retain a majority shareholding in the company.
"We need to look at all possible opportunities for Moolmans," he said.
"It's clear that there are two essential things that Moolmans needs (if it is) to be able to prosper in the future - capital for their growth and also B-BBEE direct ownership in some form or fashion.
Denne historien er fra August 22, 2024-utgaven av The Citizen.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra August 22, 2024-utgaven av The Citizen.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Why buying vacant land in an estate is a good investment
Investing in a coastal estate is beneficial for everyone from first-time buyers to families and retirees, but the big debate is often between buying a home or buying land and building oneself.
A rising star in clean living
Soweto-based entrepreneur and author of the book #I am a housekeeper, Mbali Nhlapo, widely known as the founder of Sisters @ Work and a viral TikTok sensation, has become a household name in South African homes.
Notre Dame gets love
Americans open their hearts and wallets
Heart-stopping vistas of Cape Town
Table Mountain is the lodestar
K-culture doing OK in Sunshine Land
Fans flock to sites associated with boy band
Hello? Calling my owner?
Lost, but nearly always found-even your pet
Proteas tighten grip
DOMINANT: STUBBS, BAVUMA TONS BAT SRI LANKA RIGHT OUT OF THE GAME
Sirino looks ready to go
Gaston Sirino (above) could return for Kaizer Chiefs in their Betway Premiership clash with Royal AM today at the Peter Mokaba Stadium in Polokwane.
Inexperience becoming a tired excuse
There will always be reasons that teams are defeated, but there is one particular excuse that has become too easy for our national cricket teams to lean on when they lose.
Cricket-mad Vaibhav's dream becomes reality
Dreams have come early for cricket-mad Vaibhav Suryavanshi, the shy schoolboy aged 13 who is the youngest player in Indian Premier League history.
