WATCH: What Afrimat has planned for Universal Coal

In pursuit of a diversification strategy, buildings material supplier Afrimat now stands as the sole bidder for Australia-listed Universal Coal. The bid for Universal Coal, which has operations in SA, flies in the face of a growing trend away from investments in fossil fuels. Afrimat CEO Andries van Heerden says the bid forms part of the company’s strategy to diversify its portfolio and the group is considering “various financing alternatives” for the proposed deal. Van Heerden joined Business Day TV to talk about the bid.

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