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Grinaker-LTA acquirer looks to build tier-one, black-owned contractor
The Laula Consortium, which is acquiring construction group Grinaker-LTA from Aveng for R100-million, reports that its goal is to transform the struggling contractor into a profitable tier-one, black-owned group, while preserving the technical and human competence developed within the company over the past century. The consortium’s owners include Oteo Investment Holdings Proprietary Limited (61%) Manzini Ventures Proprietary Limited (17%) and Upsize Trading Proprietary Limited (12%), with the balance of the shares set aside for senior executives and managers.
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