BEE deal falls apart

CONSTRUCTION and engineering firm Group Five's empowerment deal with black investment firm iLima has collapsed after the companies failed to refinance it.

CONSTRUCTION and engineering firm Group Five's empowerment deal with black investment firm iLima has collapsed after the companies failed to refinance it.

In the latest of black economic empowerment deals to hit trouble, iLima's stake in Group Five will be returned to the company after the investment firm breached its agreement and then failed to raise new capital. - Reuters

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