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Aton’s wooing of M&R shareholders continues


As it continues to seek support from Murray & Roberts (M&R) shareholders for its R15 a share buyout offer, German investment company Aton on Tuesday released salient information related to its buyout offer to address “stakeholder concerns”.

This follows after some of M&R’s largest shareholders, including Old Mutual and the Public Investment Corporation, said they would reject Aton’s offer.

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Aton said its offer constitutes a foreign direct investment of up to R6.7-billion into South Africa and reiterated that it does not plan to delist M&R from the JSE.

Aton further motivated that it has a proven record and experience in the mining industry and also in service-oriented business-to-business businesses.

“Additionally, Aton can provide complementary technology-based expertise to M&R to unlock future growth,” said Aton.

The company added that Aton and its mining servicesprovider affiliate Redpath’s raise-boring competency is “best-in-class” and can leverage M&R’s profile, especially in South Africa.

Moreover, Aton stated that a potential future combination of Aton’s Redpath into M&R’s mining platform would contribute to M&R’s geographic expansion and size, and that M&R would benefit through Aton’s financial strength and scale, “which ultimately puts M&R’s competitive positioning beyond traditional markets”.

In terms of employee benefits, Aton highlighted that employee training and skills development are an integral part of Aton’s strategy and values.

Additionally, Aton claimed that employee safety is an absolute priority and that it appreciates strong relationships with trade unions.

Aton assured M&R shareholders that it recognises the importance of broad-based black economic empowerment (BBBEE) and the local operating environment, noting that transformation is an integral part of Aton’s strategy for South African operations.

The company said it would ensure a close working relationships with M&R’s BBBEE shareholders that remain invested in M&R.

Finally, Aton affirmed that the company represents the generation-spanning investment company of a respected German family and that it has a long-term view on investments and employees.

“We have increased the workforce of our portfolio company Edag from about 6 100 to 8 400 employees within the last five years, and increased Aton’s workforce from about 15 000 to 19 500 within the last five years.”


LINK : http://www.engineeringnews.co.za/article/atons-wooing-of-m-2018-04-24/rep_id:4136

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