Euro Steel, one of South Africa’s major distributor of stainless steel and metal products, has sold a 25.1% stake in its business to the black economic empowerment group (BEE), Isitali Consortium, for an undisclosed amount. The BEE partnership between Euro Steel and the Isitali Consortium had been funded by Capricorn Capital Partners and Blackstar Investors plc. The transaction, while subject to regulatory authority approval, is effective from 1 March 2006.
