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In line with its investment strategy to increase exposure to assets that will enhance a predictable and sustainable dividend profile in the long-term, RBH has acquired infrastructure and energy assets from Aveng for a cash consideration of R860 million. These projects include:
The 138MW Gouda wind farm, which is one of the largest wind farms in the Western Cape, on which 46 wind turbines are erected;
Imvelo Concession Company, which is the holder of a 27-year concession to build, operate and maintain the Department of Environmental Affairs’ office campus in Tshwane;
N3 Toll Concessions, which entered into a 30-year concession agreement to design, construct, finance, operate and maintain the N3 toll road between the Cedara Interchange in KwaZulu-Natal to the Heidelberg South interchange in Gauteng;
The 74MW Sishen Solar Photovoltaic Plant located in the municipality of Dibeng in the Northern Cape.
These sales are subject to the normal and customary terms and conditions, including the fulfilment of certain conditions precedent. The effective date is estimated to be on or about 31 October 2016. The full scope can be read on the SENS link: http://www.sharenet.co.za/
RBH CEO, Albertinah Kekana with Aveng CEO, Kobus Verster at a signing ceremony in Johannesburg. Included in the photo is Aveng and RBH investments and communications support representatives.