Group Makes Offer for Diamond Miner Trans Hex Shares

Finance and Trade
08/08/2016 11:45

South African diamond producer Trans Hex Group Ltd. said a group of companies holding more than 72 percent of its shares have made a mandatory cash offer to acquire the South African diamond producer. Cream Magenta 140 Proprietary Ltd., Metcap 14 Proprietary Ltd. and RAC Investment Holdings Proprietary Ltd. “have come into concert and have made a mandatory cash offer,” Trans Hex said in a statement to the Johannesburg Stock Exchange where it is traded. The offer follows an acquisition of 47 percent of ordinary shares in the company by Cream Magenta and Metcap. Trans Hex lifted the suspension in trade of its shares that was put in place on Friday and said it would let shareholders know details of the offer in due course.