Shareholders in ArcelorMittal South Africa (AMSA) voted on Friday in favour of a R2.2-billion broad-based black economic empowerment transaction, involving Likamva Resources. The approval was carried by 99.9% of the shares that were eligible to vote.
The deal will see Likamva initially hold a 17% stake in AMSA through notionally funded shares, issued by ArcelorMittal South Africa to the value of R1.75-billion.
Source: www.engineeringnews.co.za
AMSA shareholders back R2.2bn empowerment deal
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