Murray & Roberts boosts liquidity to focus on infrastructure delivery
02 Dec 2022
Country
South Africa
Year
2022
Sector
Energy and Infrastructure
Business Unit
Advisory Services
Specific Role
Joint financial advisor
Standard Bank acted as joint financial advisor to Murray & Roberts on the disposal of its entire stake in the Bombela Concession Company, which operates the Gautrain rapid rail system.
The R1.4-billion sale of their stake to Intertoll will be utilised by Murray & Roberts to reduce its debt in South Africa and will assist the Group in addressing its working capital needs.
Murray & Roberts has a proud heritage spanning more than a century and is today a multinational specialist engineering and contracting group. The Group delivers project development and construction services into the resources, industrial, energy, water and specialised infrastructure market sectors.
Our long-standing relationship with Murray & Roberts as their primary banking service provider and our deep knowledge and understanding of South Africa’s power and infrastructure sector continue to allow us to play a key role in their strategic repositioning as a multinational specialist engineering and contracting group. Aligned with our Group vision of growing the businesses that drive Africa’s growth, the improvement in debt gearing and liquidity provided by the disposal of Murray & Roberts’ stake in the Bombela Concession Company is vital to enabling this transformation.