Master Drilling has increased its stake in engineering and mining group A&R, acquiring a further 15% of the company for R50.3m.
The Gauteng-based mining solutions provider now owns about two-thirds of A&R, which provides mine and safety management systems to the industry.
Master Drilling initially bought 25% of the company in 2021 and a further 26% in 2022.
In a statement on Friday, Master Drilling said the move followed the retirement of key employees and legacy shareholders in A&R, which allowed it to meet certain requirements in the groups’ previously concluded agreements.
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.