Small-scale investors who backed the Resilient group might have been taken aback on learning of extensive related-party trading in the shares.It is going to be a busy day for SA’s construction industry on Wednesday as the Competition Commission rules on various mergers between Raubex, Wilson Bayly Holmes-Ovcon (WBHO) and Stefanutti Stocks and their respective black economic empowerment partners. The commission is under huge pressure to approve these link-ups, after Economic Development Minister Ebrahim Patel pushed seven JSE-listed construction and engineering groups into a deal that would result in a R1.5bn "voluntary" settlement agreement between themselves and the government. The deal lets the companies escape potential claims for damages over collusion in the run-up to the 2010 Soccer World Cup by "identified" state-owned entities. They also have a choice of selling a minimum 40% of their South African civil engineering and general building and construction business to black par...
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