JSE-listed multinational engineering and contracting company Murray & Roberts is contemplating selling its 50% shareholding in the Bombela Concession Company, the operator of the Gautrain. The group has valued its shareholding at more than R1.4 billion. M&R financial director Daniël Grobler said on Thursday that this is one of the options being considered to increase the working capital required by the group to execute its R59.5 billion order book.
M&R receives R285m Gautrain business disruption insurance payout He said ridership on the Gautrain prior to the Covid-19 pandemic was about 55 000 passengers a day, which dropped to zero during the pandemic, and is now at between 24 000 and 26 000 passengers a day. Grobler said this resulted in the group booking a R193 million fair value adjustment for this investment in the year. Full-year results M&R reported a 36.5% rise in revenue to R29.9 billion in the year to end-June, from R21.
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