New Partner in Saab Grintek Defence

25/06/2008 05:35. A consortium led by Imbani Amandaba (Pty) Ltd acquires 25 per cent plus 1 share of South African Saab Grintek Defence (Pty) Ltd.

Saab (STO:SAABB) has concluded a Black Economic Empowerment transaction with Imbani Amandaba, a 100% black owned company whose members consist of investors from historically disadvantaged groups. The consortium has subscribed for 25 per cent plus 1 share in Saab Grintek Defence. The transaction involves the issue of new shares to the consortium at a value of R95m.

South Africa's Black Economic Empowerment policy is aimed at promoting the economic and social development of historically disadvantaged individuals across the country. In accordance with this policy a Black Economic Empowerment partner is required in order to successfully compete and operate in the... // PR-Inside.com (Pressemitteilung)