safic stake sold

The diversified investment group, Thebe Investment Corporation, has bought a 17,7percent stake in the flooring and chemical group Safic Holdings for R20,3 million.

The diversified investment group, Thebe Investment Corporation, has bought a 17,7percent stake in the flooring and chemical group Safic Holdings for R20,3 million.

The transaction will boost Safic's black empowerment status from about 26percent to 30percent and provide it with a strategic black economic em-powerment partner.

Thebe is a broad-based black empowerment investment company, which has a mixed portfolio of investments across a range of industries.

Safic, which is listed on the JSE's alternative exchange AltX, is focused on the booming construction and infrastructure sectors.

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