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PME African Infrastructure Gets Approval For Rail Assets Sale

Wed, 29th Apr 2015 09:59

LONDON (Alliance News) - PME African Infrastructure Opportunities PLC on Wednesday said it has secured approval from authorities in South Africa for the sale of the majority of its rail assets for USD11.5 million.

PME has sold the assets to PCF Investments Ltd, a subsidiary of Principle Capital Investments and an affiliate of PUG Investments Ltd, which holds an 11% stake in PME.

It expects to complete the sale by May 6.

Shares in PME were untraded Wednesday, having last traded at 0.120 pence.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

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