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CSG pays R61.23m for stakes in construction firms

24 Jun 2014

Services company CSG Holdings (CSG) has increased its holdings in two construction firms at a cost of R61.23m.

CSG Holdings has bought two Significant Site Services operations for R61.23 million. Image: Michelle Meiklejohn Free Digital Photos

CSG would buy a further 49% in both Significant Site Services South Africa and Significant Site Services Mozambique.

The companies build and maintain remote site villages with the main focus being on the management of those facilities.

CSG‚ which was recently formed by the merger of workforce manager M&S Holdings and contract services specialist BDM Holdings‚ said it believed the integration would be seamless. It already held 41.28% in each of the two firms.

The deal would be settled in cash and shares.

Source: I-Net Bridge

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