[miningmx.com] – SHANDUKA said it had received an offer from Pembani that it combine its interests with those of Shanduka shareholders – a proposal Shanduka said it was prepared to accept.
This follows the divestment of Cyril Ramaphosa of his stake in Shanduka following his appointment as deputy president of South Africa. Ramaphosa will not retain any shareholding or any direct or indirect commercial interests in the group. Pembani is controlled by former MTN boss, Phuthuma Nhleko.
By combining their interests, Pembani and remaining Shanduka shareholders will create a new black-controlled natural resources and industrial holding group with assets including shares in Engen, AfriSam and Shanduka Resources worth more than R11bn.
The group will have “… significant scale, with liquidity to pursue value creating opportunities in sub-Saharan Africa. Nhleko will chair the company which the proposed partners hoped would be consummated in the second quarter of 2015.
