Chemserve Company Announcement
Chemical Services Limited
("Chemserve")
(Incorporated in the Republic of South Africa)
(Registration number 1967/003338/06)
Share code: CHE ISIN: ZAE000009908
Announcement
PricewaterhouseCoopers Corporate Finance (Pty) Limited is authorised to
announce that Chemserve has entered into an agreement in principle with
Sentrachem Limited to acquire it`s mining and alkylates chemical businesses
for a total cash consideration of R140 million.
The transaction is subject to certain conditions precedent, including
requisite board approvals, Competition Commission approval and the
finalisation of appropriate legal documentation. Completion of the
transaction is expected take place during September 2002.
This acquisition will broaden Chemserve`s range of mining chemicals and
detergent raw materials. The transaction is not expected to have any
material effect on the earnings in the short term.
Johannesburg
12 June 2002
Corporate adviser and sponsor
PricewaterhouseCoopers
Corporate Finance (Pty) Ltd
(Registration number 1970/003711/07)
Date: 13/06/2002 02:00:00 PM Produced by the SENS Department
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