BEE Companies to Acquire 26% Stake in Coal of Africa Project

Platts reported that Coal of Africa (ASX:CZA) has agreed with Black Economic Empowerment investors on an ownership structure for the Chapudi project.

As quoted in the market news:

CoAL said it had entered into definitive agreements with BEE companies, Rothe Investment and Vibrant Veterans as well as King Makhodo Holdings, a company representing the local communities near the project, to acquire a 26% stake in CoAL’s subsidiary, Keynote Trading & Investment 108 Proprietary.

Click here to read the full Platts report.