Bonatla Property Holdings advised on Tuesday that it has concluded an agreement in relation to the acquisition of 51% in Carbon Processing and Technology (Proprietary) Limited, a manufacturer of activated carbon and charcoal, from Dusty Moon 225 (Pty) Ltd and the IDUBE Trust.

The shares in the business will be held through M&P Boating (Pty) Ltd (M&PB), a wholly owned subsidiary of the company.

Carbon Processing and Technology (Pty) Ltd holds the Sub-Saharan rights to establish carboniser plants using the pyrolysis technology developed in Italy.

According to Bonatla, the carbon produced by these plants is comparable with the best quality carbon in the world and has extensive application in the purification of water at both the utility supply and domestic white goods level.

The purchase consideration was one rand and a loan injection of 9,999,999 rand as well as the procurement of an asset financing facility of 19.5 million rand. The loan injection and financing facility have been put in place.

Outlining the rationale for the acquisition, Bonatla said there is a strong and growing global demand for activated carbon products. The business is the only one of its kind on the African continent, and the barriers and costs of entry are substantial, it added.

Source: I-Net Bridge