Independent corporate transaction specialist Bravura Group has finalised an empowerment deal for specialist underground coal-mining company Magatar SA. An empowerment consortium consisting of Partnership Investments (PI) and Zungu Investment Company (Zico) has invested capital into Magator to ensure that the company is 26%-empowered and fully black economic-empowered (BEE) ownership compliant. Bravura holds a controlling stake in the Magatar group, which currently pursues contracts in Southern Africa and Australia. Over and above the BEE transaction, Bravura, State-owned national development finance institution the Industrial Development Corporation (IDC), South African bank Absa and the BEE partners have jointly capitalised Magatar.
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