Hosken Consolidated Investments Limited (JSE:HCI) acquired 90% stake in Formex Industries (Pty) Ltd. from Niveus Investments Limited (JSE:NIV) for ZAR 23.4 million in cash on January 14, 2013. The consideration paid is for shares held and loan claims of Formex Industries. BDO Corporate Finance Proprietary Limited acted as fairness opinion provider and Edward Nathan Sonnenbergs acted as legal advisor for Niveus Investments Limited. Investec Bank Limited acted as financial advisor for Niveus Investments Limited.


Hosken Consolidated Investments Limited (JSE:HCI) completed the acquisition of 90% stake in Formex Industries (Pty) Ltd. from Niveus Investments Limited (JSE:NIV) on January 14, 2013.