Afrimat to buy Cape Lime Proprietary for 276 mln rand

Afrimat Ltd
* Acquisition of Cape Lime and withdrawal of cautionary announcement;
* Has concluded an agreement in respect of acquisition of 100 pct of issued ordinary shares of Cape Lime Proprietary Limited;
* Acquisition will complement and augment Afrimat’s industrial minerals product offering and further expand its footprint across South Africa;
* Aggregate purchase consideration payable for acquisition of Cape Lime is r276 million;
* Will settle purchase consideration in cash amounting to r252 million and re-issuing of treasury shares amounting to r24 million. Source: Reuters