Bell Equipment announces empowerment deal with SiBi Capital
Bell Equipment, a manufacturer and distributor of heavyweight equipment, announced that it had entered into a broad-based black economic empowerment agreement with SiBi Capital, an entity entirely owned and managed by black women. SiBi Capital and Bell Equipment Foundation (BFF), a broad-based trust, will acquire 22.5% and 7.5% respectively of the issued share capital of Bell Equipment’s wholly owned subsidiary Bell Equipment Sales SA (Bessa), which will qualify as a 30% black-woman-owned entity. CEO of Bell Group Gary Bell said the agreement had been structured to pursue real transformation through the economic empowerment of black women. They would add value to the company while also aligning the company’s business strategy with that of government’s economic transformation policies. SiBi Capital was represented by Bharti Harie and Sindi Mabaso-Koyana, who each owned 50% of the entity. The amount payable by Sibi Capital for the 22.5% stake in the ordinary shares of Bessa was R2.08m...
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