JSW Energy Natural Resources South Africa (PTY), a step down subsidiary of JSW Energy in South Africa has disposed off 26% stake in its subsidiary, South African Coal Mining Holdings (SACMH). The disposal is to comply with the black economic empowerment requirements mandated by the Department of Mineral Resources (DMR), requiring the issued Shares in the Company to be owned by historically disadvantaged South Africans (HDSAs).
SACMH is a listed entity on the Johannesburg Stock Exchange (JSE). The Company through its step down subsidiary had an effective shareholding in SACMH of 93.27%. Post completion of the transaction, the Company’s effective shareholding in SACMH stands reduced to about 67.25%.
JSW Energy, part of the JSW Group, is a growing energy company. The Group has diversified interests in carbon steel, power, mining, industrial gases, port facilities, aluminium, cement and information technology.
