Aveng, Kutana talks ongoing
|Published
Picture: Ivan Alvarado/Reuters Picture: Ivan Alvarado/Reuters
Johannesburg - Construction and engineering group Aveng says negotiations for an empowerment deal between Aveng Grinaker- LTA and black women-owned company Kutana Construction are ongoing.Aveng Grinaker-LTA agreed to sell a 51 percent beneficial interest and an initial 45 percent economic interest to Kutana for R756 million in October last year.
The group had said the empowerment partner would ensure that Aveng Grinaker-LTA remained relevant in transforming construction sector.
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It previously said the deal would culminate in the introduction of a black women-owned participant and emerging black contractors into the market.