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The acquisition makes SA’s iGAS and CMG the bulk shareholders, rising their fairness shares from 25% every to 40% every, whereas Sasol will nonetheless have a 20% minority shareholding.
- The Central Power Fund introduced that its subsidiary iGAS and Companhia Mocambicana de Gasoduto acquired a majority stake Republic of Mozambique Pipeline Firm.
- iGAS and CMG elevated their fairness shares to 40% every, whereas Sasol will nonetheless have a 20% shareholding.
- CEF Group CEO Ishmael Poolo mentioned the acquisition was consistent with the fund’s technique of penetrating the power worth chain to help the area’s power wants.
The Central Power Fund (CEF) introduced that it concluded its acquisition of 30% of Sasol’s stake within the Republic of Mozambique Pipeline Firm (Rompco) together with Companhia Mocambicana de Gasoduto (CMG).
The acquisition makes South Africa’s iGAS and CMG the bulk shareholders, rising their fairness shares from 25% every to 40% every, whereas Sasol will nonetheless have a 20% minority shareholding.
This concludes a bid by the South African entities to safe the 30% share in Rompco, valued at R4.1 billion a 12 months in the past. In Could final 12 months, Sasol agreed to promote the stake to iGAS and CMG to bolster capability for low-carbon power in South Africa and the southern African area.
An announcement launched by the CEF on Wednesday mentioned Rompco owns the 865km gasoline transmission pipeline from Mozambique to South Africa in a three way partnership between Sasol, CMG and the South African Fuel Growth Firm.
CEF Group CEO Ishmael Poolo mentioned buying these shares was consistent with the fund’s technique of penetrating the power worth chain to help the area’s power wants.
“This transaction may even pave a means for the group to guide the power safety and a simply transition programme for South Africa,” mentioned Poolo.
READ | Sasol drops plan to spend money on gasoline pipeline from Moz to SA
Estevão Pale, chairperson of CMG father or mother firm Empresa Nacional de Hidrocarbonetos, mentioned the conclusion of the transaction symbolised the Mozambican authorities’s long-term dedication to long-term pure gasoline commerce between the nation and South Africa.
“This achievement is a results of long-term public-private involvement and co-operation,” mentioned Pale.
CEF chair Ayanda Noah mentioned the acquisition “heralds a brand new period in fostering partnerships geared to advertise regional built-in power improvement important for socio-economic improvement in each international locations”.
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