CSG Acquisition of Afriboom
CSG – Acquisition of Afriboom
|7 September 2015 10:29|
|CSG shareholders (“Shareholders”) are advised that Mr Pieter van der Westhuizen (the “Seller”) has accepted an offer from the Company to acquire his 100% shareholding in Afriboom (“Acquisition”). Detailed terms of the Acquisition will be recorded in a further separate full agreement (“Full Agreement”).|
Rationale for the Acquisition
In line with CSG’s acquisition strategy, the Acquisition allows for CSG to obtain a substantial market share in the hospitality and healthcare cleaning industries. The cleaning contracts already in place within the CSG group will eventually be transferred to Afriboom, thus creating a major cleaning brand in South Africa.
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