OCEAN ECONOMY
Amsol buys Smit Amandla in empowerment-boosting deal
The deal ‘reflects Operation Phakisa vision’ and includes Smit Amandla Marine’s business in Namibia and Mozambique
Smit Amandla Marine has been bought by African Marine Solutions Group (Amsol), in a deal that one investor says supports the government’s vision of an ocean economy through Operation Phakisa. Part of the Dutch Smit International group, it was relaunched more than a decade ago as an empowered entity. Amsol is an empowered specialist marine solutions provider. No deal value was disclosed for the transaction. "We are excited to build a great South African company and to remain relevant to our clients in the energy, mining, ports and maritime sectors into the future," Amsol MD Paul Maclons said on Thursday. Amsol is owned by a consortium including Smit Amandla Marine management and employees, the Mineworkers Investment Company, Pan-African Capital Holdings and RMB Ventures. Smit Amandla Marine, which will become an Amsol-branded company by the end of 2016, services clients in governments and the private sector in southern Africa. Maclons, who joined Smit Amandla Marine in 2004, said the...
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