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Cape Town - Spur [JSE:SUR] has announced in a SENS report on Wednesday that it is engaged in discussions aimed at introducing a Black Economic Empowerment partner to the group.
"Shareholders are advised that the company has entered into negotiations regarding the introduction of a Black Economic Empowerment partner to the Spur group, which if successfully concluded, may have a material effect on the price of Spur's securities."
The group cautioned that shareholder must be vigilant when dealing in the company's securities until a full announcement is made.
On Monday Spur said it acquired a 30% stake in Braviz Fine Foods to secure its rib supply.
The R36m deal will be structured in the form of equity and shareholder loans.
Braviz, which is a start-up operation, is establishing a meat processing facility in Johannesburg.
The Spur corporation operates 494 outlets globally across five chains, namely Spur Steak Ranches, Panarottis Pizza Pasta, John Dory's Fish Grill Sushi, Captain DoRegos and The Hussar Grill.
Spur Steak Ranches, with 308 outlets worldwide, is the biggest of its brands.
Read the full SENS report here.
"Shareholders are advised that the company has entered into negotiations regarding the introduction of a Black Economic Empowerment partner to the Spur group, which if successfully concluded, may have a material effect on the price of Spur's securities."
The group cautioned that shareholder must be vigilant when dealing in the company's securities until a full announcement is made.
On Monday Spur said it acquired a 30% stake in Braviz Fine Foods to secure its rib supply.
The R36m deal will be structured in the form of equity and shareholder loans.
Braviz, which is a start-up operation, is establishing a meat processing facility in Johannesburg.
The Spur corporation operates 494 outlets globally across five chains, namely Spur Steak Ranches, Panarottis Pizza Pasta, John Dory's Fish Grill Sushi, Captain DoRegos and The Hussar Grill.
Spur Steak Ranches, with 308 outlets worldwide, is the biggest of its brands.
Read the full SENS report here.
