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Seriti to conclude SAEC acquisition from South32


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Seriti Resources has confirmed that all conditions precedent to its acquisition of South32 SA Coal Holdings Proprietary Ltd (SAEC) have been fulfilled, and the sale is expected to be completed on 1 June 2021. The new shareholders of 100% of SAEC will be Seriti Resources (90%), and the SAEC Employee and Community Trusts (5% each).
Since signing in November 2019, this transaction has been subject to various conditions precedent that have required, amongst others, the approval of the Competition Tribunal, the Minister of Mineral Resources and Energy, Richards Bay Coal Terminal, and Eskom.
Seriti CEO, Mike Teke, said: “The closure of this transaction is a significant milestone for Seriti and our employee and community trusts. It will secure a sustainable, reliable, and cost-effective coal supply solution to Eskom, and at the same time bring opportunities for further synergies and optimisation within Seriti. This is a further demonstration of our commitment ....

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Global Sustainable Tourism Market- And Beyond Holdings (Proprietary) Ltd., Adventure Alternative Ltd., Better Places International BV, Among Others to Contribute to the Market Growth


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NEW YORK, April 26, 2021 /PRNewswire/
The sustainable tourism market is poised to show a decremental growth of USD 130.12 billion during 2020-2024.
Technavio has announced its latest market research report titled Sustainable Tourism Market by Type and Geography - Forecast and Analysis 2020-2024
Visit our Exclusive report on Sustainable Tourism Market scenarios, Estimates, the impact of lockdown, and Customer Behaviour.
The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The market is positively impacted by the rising popularity of organic sustainable tourism.
The sustainable tourism market analysis includes the type segment and geographic landscape. This study identifies the shifting preference toward local and authentic experiences as one of the prime reasons driving the sustainable tourism market growth during the next few years. ....

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South32 releases update regarding shareholding transaction with Seriti


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South32 Ltd has provided an update regarding the transfer of its shareholding in South32 SA Coal Holdings Proprietary Ltd (South Africa Energy Coal) to Seriti Resources Holdings Proprietary Ltd.
The transaction is expected to be concluded following the end of the March 2021 quarter.
South32 advises that it has become aware that key information regarding negotiations between South32, Seriti, and Eskom Holdings SOC Ltd has ceased to be confidential ahead of finalising arrangements to satisfy the final material conditions to the transaction.
In this regard, and conditional on Eskom’s final approval, the approval of National Treasury for amendments to the terms of the Duvha Coal Supply Agreement and the completion of the transaction, South32 has committed to providing additional support to underpin the sustainability of the South Africa Energy Coal business under the ownership of Seriti. The key elements include: ....

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