JOHANNESBURG - Brikor has accepted an offer from Vibrato Brick and Paving for the acquisition of the AltX-listed clay-brick and aggregates manufacturer’s Donkerhoek business as a going concern for R50.2 million.
The business produces aggregates of a wide variety of sizes and technical specifications of stone, gravel and sand for large and small scale civil engineering as well as infrastructure projects.
Focusing on its core business of brick-making and coal, Brikor said yesterday that the proceeds of the transaction would be used for repayment of debt.
It added that it was in discussions with the JSE about the categorisation of the transaction given that trading in the company’s shares was suspended.
It would advise shareholders once this had been determined.