JSE-listed industrial energy group enX will acquire two of JSE-listed industrial and capital equipment group Eqstra’s divisions and recapitalise Eqstra’s contract mining division in a R7.8-billion deal. enX would issue 52.7-million of its shares (consideration shares), at R21 apiece, to Eqstra for the acquisition of its Industrial Equipment (IE) and Fleet Management and Logistics (FML) divisions. It would also raise R1.5-billion, of which R1.4-billion would be used to recapitalise Eqstra’s Contract Mining and Plant Rental (CMPR) division.
