Tharisa acquires 90% stake in Salene Chrome Zimbabwe

Tharisa has acquired a 90% stake in Salene Chrome Zimbabwe Ltd for an undisclosed sum, the South African chrome producer announced on Wednesday May 16.

The company acquired the holding from the Leto Settlement Trust, which has family links to Tharisa chief executive officer Phoevos Pouroulis and is the beneficial shareholder of Tharisa’s major shareholder, Medway Developments Ltd. Leto will keep a 10% free carried shareholding in Salene and will be entitled to a 3% royalty on gross proceeds from chrome concentrates sales. Salene has been awarded three special grants...

Published

Janie Davies

May 16, 2018

13:48 GMT

London