Aveng

Construction Sector being demolished as Group Five succumbs to depressed market

The decision taken by Group Five, one of SA’s construction giant which built the Moses Mabhida stadium, to file for bankruptcy protection, has come as a shock to the nation as the sector may be collapsing.

Colluding Construction giants reach aggreement with Government

Construction companies that colluded around the 2010 Fifa World Cup Stadium projects, have paid their first sum of R117m in terms of the settlement agreement they entered into with the National Revenue Fund.

Cape Town suing Construction companies over World Cup stadium loot

The City of Cape Town is suing several construction companies, accused of colluding during the construction of stadiums in the build-up to the 2010 FIFA World Cup.

Colluding construction firms agree to pay R1.5bn to help transformation

The South African Government reached an agreement with seven listed construction groups found to have participated in collusion. The companies will contribute R1.5 billion to help black-owned partners grow.

Competition Tribunal confirms Aveng deal

Competition Tribunal on Wednesday confirmed an immunity agreement between JSE-listed construction group Aveng struck with the Competition Commission.

Black women-owned company to buy majority stake in Aveng

Kutana Construction, a black women-owned and led company, will buy a majority 51% stake in Aveng subsidiary Aveng Grinaker-LTA, which services infrastructure, energy, rail and mining markets in Africa.

Murray & Roberts to take part in bid-rigging settlement deal

Murray & Roberts has opted to participate in a R1.25bn “voluntary” settlement agreement between construction companies and the government to allay competition authority penalties and accelerate transformation in the industry.

Murray & Roberts shifts focus, quits the lucrative Construction sector

Construction giant Murray & Roberts (JSE: MUR), which helped building South Africa's 2010 FIFA World Cup stadium projects, is exiting infrastructure and building business markets.

Aveng-Collins’ R1.14 billion property deal backed by Nedbank

Nedbank Corporate and Investment Banking (NCIB), on Thursday said it had concluded an estimated R1.14 billion loan facility to finance a joint venture between Durban based commercial property developer, Collins Group and Aveng.

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