AECI boosts mining division's black ownership in R522m transaction

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AECI boosts mining division's black ownership in R522m transaction

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AECI boosts mining division's black ownership in R522m transaction

//business-finance.news-articles.net/content/202 .. sion-s-black-ownership-in-r522m-transaction.html

Published in Business and Finance on Monday, March 3rd 2025 at 1:20 GMT by MSN
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

AECI Ltd announces a R522 million B-BBEE transaction for its mining subsidiary, targeting 51% black ownership amid company-wide strategic restructuring. The deal comes as the chemical manufacturer reports declining financial performance but maintains focus on core business growth.

AECI, a South African explosives and specialty chemicals company, has increased the black ownership in its mining division, AECI Mining, through a R522 million transaction. This deal involved the sale of a 7.5% stake to a consortium of black-owned companies, including the AECI Community Trust, AECI Employees Trust, and a group of black-owned businesses. The transaction aims to enhance transformation and economic inclusion in line with South Africa's Broad-Based Black Economic Empowerment (B-BBEE) policies. The funds from this sale will be used to reduce AECI's debt, thereby strengthening its balance sheet. This move not only supports AECI's commitment to transformation but also aligns with its strategic objectives to foster sustainable growth and value creation.

Read the Full MSN Article at:
[ https://www.msn.com/en-za/news/other/aeci-boosts-mining-division-s-black-ownership-in-r522m-transaction/ar-AA1A7qLx ]

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