Google Website Translator Gadget

Tuesday, October 11, 2011

Shanduka seeks controlling stake in coal JV

Tuesday, 11 Oct 2011

It is reported that Shanduka Group hopes to conclude a deal before the end of the year which would increase its stake in a coal venture with global trader Glencore to a controlling one.

Mr Phuti Malabie Chief Executive of Shanduka said "For our growth, we are not necessarily looking at new acquisitions. At our existing investments, we are looking for significant shareholdings or controlling equity stakes, getting deeper into those businesses we are already in."

Mr Malabie also told the paper there were no immediate plans to list the group or any parts of its businesses.

Shanduka said earlier this week that it may invest BRL 1.1 billion for control and management of Lonmin Limpopo division.

Together with Glencore, Shanduka has also expressed interest to bid for Optimum Coal South Africa sixth-largest producer.

Shanduka is an investment group run by prominent politician-turned-businessman Cyril Ramaphosa.

(sourced from miningmx)

No comments: