Relief as Afrimat walks away from R2.1bn coal deal
Building materials supplier opts not to acquire Australia-listed Universal Coal
03 July 2019 - 07:37
Investors have welcomed a decision by building materials supplier Afrimat to walk away from the R2.1bn acquisition of Australia-listed Universal Coal.
Afrimat, which has a market capitalisation of R4.5bn, said in April it had made an offer for Universal Coal, which operates in SA. It offered a maximum price of A$0.40 (US27c) a share. ..
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