ASR - Assore - Sumitomo Acquires A Stake In The Ho
ASR
ASR
ASR - Assore - Sumitomo Acquires A Stake In The Holding Company Of Assore
Assore Limited
(Incorporated in the Republic of South Africa)
(Registration number 1950/037394/06)
Share code: ASR
ISIN: ZAE000017117
("Assore")
SUMITOMO ACQUIRES A STAKE IN THE HOLDING COMPANY OF ASSORE
Assore Limited ("Assore") is pleased to announce that Sumitomo Corporation of
Japan ("Sumitomo") has acquired a 20% stake in Oresteel Investments
(Proprietary) Limited ("Oresteel") from Old Mutual Life Assurance Company (South
Africa) Limited ("Old Mutual") at a cost of approximately R500 million.
Oresteel holds a 52.28% controlling interest in Assore and, following this
transaction, the shareholders of Oresteel will be the Sacco family (60%), Old
Mutual (20%) and Sumitomo (20%).
Illovo
Johannesburg
11 January 2007
Sponsor
Standard Bank
Contacts:
Sumitomo
Mr Matt Yamaguchi
Phone: 011 784 9120
Old Mutual
Mr Elian Wiener
Phone: 082 460 8755
Assore
Mrs Celine Stemmett
Phone: 011 770 6948
Date: 11/01/2007 09:00:01 Produced by the JSE SENS Department.
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