The South African company to become a member of the investment Remgro Ltd. shipping company Grindrod and port via a capital increase the company value of two billion rand (256 million U.S. dollars). Remgro subscribe to 133,333,334 new ordinary shares issued at a price of Grindrod of 15.0 rand, for a total volume of approximately 22% of the enlarged share capital of the South African company. The transaction is subject to several conditions including the approval of the shareholders of Grindrod with a majority of at least 75%.
Grindrod said that this transaction is in line with its strategy of further diversification of its portfolio of activities involving the transformation of integrated logistics provider in a program, which is accompanied by an investment plan worth over 10 billion rand over the next five years which aims to strengthen the capacity of ports and terminals of the group, with particular reference to the fourth phase of development of the Maputo Coal Terminal at the port of Maputo.
"The assets of Grindrod, strategically located in southern Africa - said the CEO of the port and shipping group, Alan Olivier - facing a significant growth of Grindrod. The operation will support our growth plans and will further strengthen the solid financial position of Grindrod. Above all we will get the added flexibility to respond to new opportunities where and when they arise. "
"We believe - for his part said the CEO of Remgro, Thys Visser - Grindrod, which constitutes an interesting investment opportunities in the fields of shipping and related infrastructure.Grindrod Remgro will give access to areas with significant growth prospects and excellent remuneration at any stage of the economic cycle. "
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The South African company to become a member of the investment Remgro Ltd. shipping company Grindrod and port via a capital increase the company value of two billion rand (256 million U.S. dollars). Remgro subscribe to 133,333,334 new ordinary shares issued at a price of Grindrod of 15.0 rand, for a total volume of approximately 22% of the enlarged share capital of the South African company. The transaction is subject to several conditions including the approval of the shareholders of Grindrod with a majority of at least 75%.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
