Afrimat continues pursuit of UCP

23rd July 2020

By: Schalk Burger

Creamer Media Senior Deputy Editor


Font size: - +

Industrial minerals and construction materials company Afrimat on July 22 announced its firm intention to acquire Unicorn Capital Partners (UCP).

UCP’s business comprises mobile crane hire, exploration drilling services, drilling and blasting, opencast and underground mining and earthmoving operations.

Afrimat is primarily engaged in openpit mining, and processing and the supply of a broad range of industrial minerals and materials to an assortment of industries across Southern Africa.

In addition, Afrimat supplies bulk commodities to local and international markets.

UCP’s operations fit the strategy of Afrimat and will provide it with access to additional services and commodities that expand its current product offering in the bulk commodities segment, Afrimat said in a statement.

"The UCP board of directors has received a firm intention from Afrimat to make an offer to acquire all the ordinary shares in UCP not already held by Afrimat (or by its subsidiaries) or by subsidiaries of UCP, by way of a scheme of arrangement. Should the scheme become operative, UCP shareholders will receive 1 Afrimat ordinary share for every 280 UCP ordinary shares held.

"The scheme will provide UCP shareholders with an opportunity to convert their illiquid investment in UCP to a more liquid instrument in Afrimat and to gain exposure to a business with exciting growth prospects. Afrimat believes the transaction will provide UCP shareholders with an opportunity to realise significant and attractive value for their UCP shares."

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online


Latest Multimedia


Sandvik Mining Automation image
Sandvik Mining and Rock Solutions

The AutoMine® product group offers autonomous and remotely operated mobile equipment. It allows operators to simultaneously control and monitor...

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...


Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?







sq:0.223 0.257s - 91pq - 2rq
Subscribe Now