Murray&Roberts ups Cememtation offer

JOHANNESBURG – South African industrial and engineering group Murray & Roberts increased its mandatory offer to remaining shareholders in Cementation, the firm said yesterday.

Murray & Roberts said in July its purchase of a 79-per cent controlling interest in Cementation from Sweden’s Skanska AB would cost 114 million rand. The South African group said on Wednesday that it had increased its mandatory offer to remaining shareholders of Cementation ordinary shares to 865 cents per share from 759,63 cents and to shareholders of preference shares to 150 cents from 100 cents.M&R signed a letter of intent with Skanska to acquire Skanska cementation mining businesses operating from South Africa, Canada and Australia in November last year.The cementation mining businesses include underground mine development, shaft sinking and raise-boring, design and engineering of both underground works and minerals processing plants, civil and building construction, and mechanical, electrical and instrumentation installations.-Nampa-ReutersThe South African group said on Wednesday that it had increased its mandatory offer to remaining shareholders of Cementation ordinary shares to 865 cents per share from 759,63 cents and to shareholders of preference shares to 150 cents from 100 cents.M&R signed a letter of intent with Skanska to acquire Skanska cementation mining businesses operating from South Africa, Canada and Australia in November last year.The cementation mining businesses include underground mine development, shaft sinking and raise-boring, design and engineering of both underground works and minerals processing plants, civil and building construction, and mechanical, electrical and instrumentation installations.-Nampa-Reuters