Phill Magakoe / AFP
JOHANNESBURG - Engineering company Murray & Roberts is selling its stake in the Guatrain.
It is announced the sale of 50 percent shareholding of Bombela Concession Company, the group that operates Gautrain.
The stake will be sold for R1.3 billion to an infrastructure company based in Amsterdam called Intertoll.
The deal if approved will go some way to reduce debt at Murray and Roberts and help ease the company's cash crunch.
M&R and Intertoll are targeting implementation of the proposed transaction in the first quarter of next year.
Murray & Roberts has announced that it will sell its 50% shareholding of Bombela Concession Company. Bombela is the company that operates Gautrain. #DStv403 #eNCA pic.twitter.com/na8MLISRWz
— eNCA (@eNCA) December 1, 2022