SALE OF INFRASTRUCTURE ASSETS FROM AVENG TO ROYAL BAFOKENG HOLDINGS
Bowmans advised Aveng Limited in relation to the sale of shares transaction in terms of which Royal Bafokeng Holdings Pty Ltd acquired certain infrastructure assets for a cash consideration of R860 million from Aveng Limited, via a wholly owned subsidiary Aveng (Africa) Pty Ltd. This transaction was valued at R860 million. This matter involved a significant deal value and is likely to have a positive impact on the vitally important renewable energy sector in South Africa. It was a favourable disinvestment for Aveng who is able now to direct its focus and energies to core business in Africa.