Share

Hitching up

SENWES AND MGK, the very successful grain co-op in the Brits area, have at last decided to sort of join forces. Oh, apologies: MGK hasn’t been a co-op for a long time. In fact, I’d the privilege of being involved in its conversion from a co-op to an agricultural company. And it has all the signs of a prosperous union.

Quite a number of years ago Senwes obtained control of the Vaalharts co-op – in what later appeared to be a very unhappy deal. The well-known Zeder Investments (in the PSG stable), along with Thembka, in turn obtained a 47% interest in MGK.

The transaction between Senwes and MGK is basically that MGK became Senwes’s specialist irrigation division and as a first step MGK took over Senwes’s operations in the Vaalharts area. In turn, Senwes then bought the joint interest of 47% Zeder and Thembka held in MGK.

Senwes, with its head office in Klerksdorp and MGK (in Brits), plus the Vaalharts area, is now suddenly a force to be reckoned with on the JSE that could easily start competing against Afgri, even among institutional investors. (See “Preparing for listing” in Finweek 19 August 2010.)
 
We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.94
-0.1%
Rand - Pound
23.91
-0.0%
Rand - Euro
20.41
+0.1%
Rand - Aus dollar
12.33
+0.1%
Rand - Yen
0.13
-0.0%
Platinum
908.05
+1.2%
Palladium
1,014.94
+1.3%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders