/ 11 November 1999

EMPOWERMENT GROUP BUYS ENGEN PART

BLACK empowerment Worldwide African Investment Holdings has acquired 20% of South African oil group Engen from Malaysian national oil company Petroliam Nasional Berhad. Business Day reports that the deal follows the related acquisition of Worldwide subsidiary Zenex by Engen last month. Petronas bought an initial 30% stake in Engen for R1,7bn in 1996 and increased its holding to 100% before delisting the company from the JSE last year.