Afrimat, which provides bulk commodities, construction materials, industrial minerals and future materials and metals, has sold certain aggrregates and ready-mix plants to Saturc Proprietary.
Afrimat announced on Wednesday that it has sold certain aggregates quarries and ready-mix concrete plants across South Africa to Saturc Proprietary for R215 million.
The JSE-listed diversified industrial materials and mining company stated in a notice that these divestments were part of the conditions imposed by the Competition Tribunal of South Africa following its acquisition of Lafarge South Africa Holdings.
Afrimat’s R1.05 billion acquisition of Lafarge South Africa was conditionally approved by the Competition Tribunal on April 10, 2024.
The company confirmed that all conditions precedent to the disposal have been fulfilled, including the approval of Saturc as the purchaser by the Competition Tribunal, as per the Lafarge merger conditions, the requisite ministerial consents under Section 11 of the Mineral and Petroleum Resources Development Act, 2002, and all other regulatory approvals and authorisations required for the disposal.
