Black Economic Empowerment
Black Economic Empowerment
While it is essential for corporate South Africa to commit to Broad-based Black Economic Empowerment (B-BBEE), there are numerous complexities involved.
We can help your business gain an understanding of government strategy and policy on B-BBEE, including compliance requirements, the interaction between Codes and Charters, and the relevant legislative issues in structuring and financing B-BBEE transactions.
Major publishable transactions
- Acquisition by Umzwilili of the entire issued share capital in EnviroServ Holdings (Pty) Ltd and RW loan claims in EnviroServ Waste Management (Pty) Ltd.
- Acting for Aveng Africa (Pty) Ltd in relation to the sale of shares in Imvelo Concession Company (Pty) Ltd by Vulindela Concessions VI (Pty) Ltd and Vulindlela Holdings (Pty) Ltd. Revival Agreement signed 24 February 2023 of lapsed concluded Sale of Shares Agreement during December 2022.
- Acting for Southern Point Resources in connection with the subscription of up to 29,9% of the issued share capital of Bushveld Minerals, a company listed on the LSE. Through the investment, and issuing of new equity, Southern Point Resources gained a stake of 50% in Bushveld Minerals’ subsidiary, which owns the Vanchem vanadium plant. Southern Point Resources will also acquire the vanadium producer’s 64% equity interest in a subsidiary that owns the Mokopane vanadium project located in the Mokopane District of Limpopo Province in South Africa.
- Advised Aveng Africa (Pty) Ltd in relation to the sale of Trident Steel as a going concern to Trident Steel Africa (Pty) Ltd, a company formed by a consortium of South African and USA private capital.
- Advised on a significant ZAR-value landmark broad-based black economic empowerment (B-BBEE) transaction for Impala Platinum. The 13% equity ownership empowerment transaction was facilitated through three components that were fully vendor-funded.