Civil engineering and construction group Stefanutti and Bressan on Tuesday announced a R1,1-billion merger with international construction group Stocks Limited. The merger would position the new group as a major competitor in the first-tier construction sector with turnover of almost R5-billion, Stefanutti and Bressan said in a statement.
South African stocks were slightly lower at noon on Tuesday, pressured by miners on faltering metal prices, but improved sentiment in overseas markets restricted losses, traders said. At noon, the JSE’s broader all-share index had given up 0,19% at 30 056,80.