Afarak to acquire remaining 10% of Afarak Mogale

Speciality alloys producer Afarak Group’s Afarak Mogale subsidiary will buy the 10% stake in the subsidiary held by the Mogale Alloys Trust for R64.9-million. Afarak Group in 2009 bought a 90% stake in Afarak Mogale, with the balance held by the trust. The trust has, on several occasions, requested that Afarak acquire its 10% stake in Afarak Mogale.