National Property Portfolio on Auction

National Property Portfolio on Auction
Loading

WBHO Contexx buyout to combine expertise

September 11 2012 at 08:00am
By Roy Cokayne

Comment on this story

Wilson Bayly Holmes-Ovcon (WBHO) had acquired the remaining 49.9 percent in Australian-based high-rise construction specialist Contexx it did not already own for an undisclosed amount, the JSE-listed construction and engineering group said yesterday. The group said it expected the transaction to be effective from July 1. WBHO said the acquisition was a small related party acquisition and was not expected to have a material effect on earnings, headline earnings or net asset value a share. Explaining the rationale for the transaction, WBHO said Probuild specialised in industrial and commercial construction while Contexx had specialty in high-rise residential construction. The benefits included facilitating opportunities for Probuild and Contexx to collaborate on projects that required diverse expertise and improved cash flow generation to fund construction activities. The shareholding has been acquired from two founding directors of Contexx. WBHO closed 2.2 percent higher at R147.45. – 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