Grindrod further extends deadline for Matola terminal acquisition

Grindrod Limited (JSE:GND) has extended the long-stop date to May 19, 2025, for its acquisition of the remaining 35% interest in Terminal de Carvão da Matola Limitada. This extension is due to delays in receiving the necessary approval from the Mozambican competition authority and the finalization of a bank guarantee. While the bank guarantee has been partially fulfilled, finalizing it requires the closing date to be determined. Shareholders will receive further updates regarding the remaining outstanding conditions in a future announcement. Grindrod's financial advisor and transaction sponsor is Rand Merchant Bank, while Edward Nathan Sonnenbergs Incorporated serves as legal advisor. Nedbank Corporate and Investment Banking is the sponsor.