Nompumelelo Magwaza
Lesedi Nuclear Services has welcomed two new shareholders, construction giant Group Five and investment holding company J&J, increasing its industrial footprint. The deal was sealed with the Competition Commission’s approval last month.
J&J and Group Five purchased shares in Lesedi, a subsidiary of French nuclear giant Areva that has been providing technical expertise for the construction of Eskom’s Medupi and Kusile power stations.
The commission concluded that the merger was unlikely to raise substantial competition concerns and recommended that the deal be approved without conditions. Areva will retain control of the nuclear side of the business.
Lesedi co-founder and chief executive Francis Carruthers said the shareholding would make South Africa a significant player in the nuclear and non-nuclear energy sectors. He said Lesedi was well-placed to support Eskom projects with more local content.