Diversified industrial group KAP Industrial hopes to implement its BEE transaction at the beginning of September after the Competition Commission recommended its approval, CEO Gary Chaplin said on Tuesday. In terms of the empowerment deal, Sakhumzi Foundation Empowerment Trust and the FWG Pieters Trust will each buy a stake of 22% and 23% respectively in KAP subsidiary Unitrans Supply Chain Solutions, for a total of R1.2bn. Unitrans houses KAP’s SA contractual logistics and supply chain operations. Unitrans services the petroleum, chemical, mining, cement, food and general freight sectors. Speaking after the release of the company’s results for the year ended June 30, Chaplin said the commission had recommended that the Competition Tribunal approve the deal. The tribunal is set to consider the transaction next week, he said.
"We do not anticipate any problems. Hopefully, we will implement the deal on September 1," he said. This comes as the group looks to improve the fortunes ...
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