AECI sells unit to management, workers
South African chemicals, explosives and property group AECI is to sell the nylon light decitex business of SANS Fibres to a consortium including SANS management and workers' trust and the Industrial Developing Corporation, in a deal that will see more than 25% of the new company placed in BEE shareholders' hands.
Govt approves AgriBEE charter
The Department of Trade and Industry has approved the application for the AgriBEE sector transformation charter, which is aimed at ensuring greater participation by black people in the country's agricultural sector, both in farming activity and in enterprises along the entire value chain.
Sasol in SA's largest BEE deal
South African petrochemical company Sasol has announced the final terms of a black economic empowerment deal which, if approved, will see 10% of its shares, worth about R26-billion, owned by previously disadvantaged individuals and groups.
SA's mergers boom continues
Merger and acquisition activity rose sharply in South Africa in 2007, according to Ernst & Young's annual M&A review, with total deal volumes up by 81% over 2006 and with black economic empowerment remaining a major driver of transactions in the country.
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