Go Life to sell 26% stake to empowerment partner
ENGINEERING NEWS / 03 MAY 2018 - 11.55 / SIMONE LIEDTKE
Go Life International will sell 235-million shares, which represents 26% of the company’s equity, to private investment holding company Caligraph.
Caligraph, which is focused largely on black economic empowerment (BEE) opportunities in South Africa, identified a unique opportunity in Go Life to play a significant role in the pharmaceutical and nutraceutical industry in South Africa and abroad, both as an investor and as the facilitator of empowerment within Go Life Healthcare (GLH).
Image - Web
Caligraph intends to work with management to provide GLH with the appropriate BEE credentials and to enhance the future strategy for GLH to pursue organic and acquisitive growth and extension of the value chain, both upstream through the acquisition of pharmaceutical registrations and downstream through acquisitions or the creation of start-up value-adding pharmaceutical businesses.
Mxolisi Motau, representing Caligraph, has been appointed as A nonexecutive director of GLH, with effect from April 3.
Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER