BEG - Beige Holdings Limited - Acquisition of a 50% interest in Kgalagadi Soap
BEG
BEG
BEG - Beige Holdings Limited - Acquisition of a 50% interest in Kgalagadi Soap
Industries (Pty) Ltd
BEIGE HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1997/006871/06)
("Beige" or "the Group")
ISIN Code: ZAE000034161 Share code: BEG
ACQUISITION OF A 50% INTEREST IN KGALAGADI SOAP INDUSTRIES (PTY) LTD
Beige is pleased to announce that in line with its strategy to increase the
Group`s footprint in Africa, an agreement has been reached in respect of the
acquisition by Beige of a 50% shareholding in Botswana-based Kgalagadi Soap
Industries (Pty) Ltd ("KSI") for an undisclosed amount("the agreement").
KSI is involved in the manufacture of laundry and toilet soaps.
The transaction remains subject to, inter alia:
* a satisfactory due diligence investigation being performed by Beige;
* the conclusion of final agreements, including but not limited to, a
Subscription Agreement, a Shareholders Agreement and a Management Agreement
entitling Beige to manage KSI on behalf of all the shareholders; and
* regulatory approvals required in respect of both Botswana and South African
legislation.
An Interim Management Agreement which governs the management of KSI from the
date of the agreement to the effective date of the Management Agreement becomes
operational immediately and includes a break fee payable by any party who
cancels the transaction post implementation of the Interim Management Agreement.
This announcement is for information purposes only and is not required in terms
of the JSE Listings Requirements.
Johannesburg
19 September 2011
Sponsors
Arcay Moela Sponsors (Pty) Ltd
Date: 19/09/2011 17:51:17 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
