JOHANNESBURG - Murray & Roberts Limited has secured an additional R80-million in business rescue funding, boosting its efforts to stabilise operations during restructuring.
The funding, provided by investors led by Differential Capital, supports a plan to sell the company’s mining subsidiaries, including Cementation in Africa and the Americas.
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This move is expected to safeguard around R2800 jobs, especially in South Africa.
The business rescue practitioners emphasise a liquidation application against parent company, Murray Roberts Holdings, will not affect the ongoing rescue process or operations.
They remain confident the rescue plan will protect jobs and preserve critical skills in the mining sector.