MRHLD:  1,445   -46 (-3.09%)  19/12/2018 00:00

Aveng: Jumps 29 pct as regulator approves tie-up plans with rival

** Builder Aveng rises nearly 30 pct as takeover regulator approves plans to merge with rival Murray & Roberts Holdings (M&R).

** M&R is interested in Aveng's opencast mining business, which would compliment M&Rís underground mining business.

** M&R plans to buy Aveng for 1 billion rand ($73.12 million), on the condition that Aveng completes its planned rights offer of at least 300 million rand.

** At 1148, GMT Aveng shares were up 29.4 percent at 22 cents. (Reporting by Nomvelo Chalumbira)

2018-06-21 14:02:20

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