MACSTEEL - Breaking News

MACSTEEL - Breaking News
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Macsteel Service Centres SA (MSCSA) is pleased to provide the following update to interested parties.  It is well known to most industry sources and insiders that we have, over an extended period of time, been in the process of reviewing and examining different strategic objectives in the best interests of all our Stakeholders.

In pursuance of these objectives, we will shortly invite interested parties to participate in an orderly and disciplined process aimed at giving those selected an  equal opportunity at acquiring an equity interest in our African steel service centre group, MSCSA.

This process will be exclusively managed by Investec Bank plc and will include both domestic and offshore participants.

MSCSA operates over 70 steel service centres in Africa and employs over 5000 people.

The current shareholders include Mr Eric Samson and his investment structures, Management and a BEE consortium holding 25.5%, including an Employee Trust.