[miningmx.com] — SENTULA said on Friday it has started discussions on a proposed broad-based black economic empowerment transaction.
The company said the deal would involve Sentula employees, a community trust and an strategic partner.
“The…transaction will be implemented by way of a vendor financed structure, pursuant to which the BBBEE shareholders will acquire a direct
equity interest in certain of Sentula’s South African mining services businesses
which do not already have empowerment equity ownership in place,” the company said.
Sentula said the deal would give it effective black ownership of more than 25%, as measured in terms of the department of trade and industry’s codes of good practice.
Sentula announced a similar transaction with Shanduka in April, but it has since been called off.
