M&R plans to hike stake in Bombela by end of this month

JSE-listed Murray & Roberts (M&R) expects to wrap up the R405-million acquisition of an additional 17% stake in the Bombela Concession Company (BCC) by the end of November. In August, M&R secured a memorandum of understanding that would see the construction giant increase its effective shareholding in BCC from the current 33% to 50% through the acquisition of shares from shareholders Bouygues Travaux and Bombardier Transportation UK.