Murray & Roberts (M&R) has announced plans to acquire a further 17% interest in the Bombela Concession Company for R405m, taking its overall stake in the company to 50%. Bombela is a special purpose vehicle established for the design, partial financing, delivery, operation and maintenance of the Gautrain. The acquisition is being undertaken as part of the company's broader capital allocation strategy, as the investment in Bombela provides strong returns in the short to medium term, while the company continues to seek potential acquisitions that would complement its three operating platforms. Once all the agreements have been signed, the implementation of the proposed transaction will remain subject to obtaining approval from the Gauteng Management Agency, competition authorities, as well as approval by Bombela's funders. The effective date of the transaction, subject to the finalisation of the agreements, will be in the second quarter of this financial year. The announcement came a ...
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