BRIEF-Labat Africa to buy Reinhardt Transport Group for 645 mln rand

viernes 12 de junio de 2015 02:49 GYT

June 12 (Reuters) - Labat Africa Ltd :

* Will acquire 100 pct of RTG for a consideration of R645 million

* Intends issuing 240 million new labat shares at 150 cents per share to settle balance of consideration

* Labat and RTG have now concluded an agreement for acquisition subject to certain conditions precedent

* Intended that financing will be structured by way of R325 million of debt and balance through a private placement of shares in Labat

* Effective date of transaction is 1 August 2015

* Total number of shares in issue in Labat post transaction will be approximately 500,000,000 Source text for Eikon: Further company coverage: