National Property Portfolio on Auction

National Property Portfolio on Auction
Loading

Brikor Properties sold to reduce debt

August 13 2012 at 08:00am
By Roy Cokayne

Comment on this story

Brikor, the financially distressed AltX-listed manufacturer and supplier of building and construction materials, has agreed to the sale of two properties it owns in Vereeniging to National Ceramics Industries for a total of R11 million. The company said on Friday the sale of the properties was in line with its strategy to dispose of non-core operations to strengthen the group’s cash resources and improve its current gearing ratio. The proceeds from the disposal will be used to reduce debt. The sale of the properties follows a decision taken by Brikor’s board in October last year to dispose of its Vereeniging operations after they were identified as non-essential to the group’s main business. Brikor shares were untraded at 7c on Friday. – Roy Cokayne


sign up
 
 

Comment Guidelines


  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

     

Join us on

 IOL-Social networks IOL-Social networks IOL-Social networks IOL-Social networks
IOL Travel

Make sure you find the best available airfares with our easy-to-use search engine.

Travel_pic_enw
Sudoku