Murray & Roberts to sell Gautrain stake for R1.3bn

Source: Bioclear South Africa via Wikimedia Commons

BCC operates the Gautrain, a high-speed express commuter rail system in Gauteng. It was appointed by the provincial government in 2006 to oversee the design, build, operation, and maintenance of the project.

Murray & Roberts has announced that it will sell its 50% shareholding of Bombela Concession Company. Bombela is the company that operates Gautrain. #DStv403 #eNCA pic.twitter.com/na8MLISRWz

— eNCA (@eNCA) December 1, 2022

The proposed agreement entails a 33% stake in BCC held by M&R, and a 17% stake held by M&R BCC Financing Company.

The transaction is pending shareholder approval, with M&R and Intertoll aiming for implementation during the first quarter of next year.