Home South African More than R100m raised from Bosasa auction

More than R100m raised from Bosasa auction

54
SHARE

The three-day Bosasa auction exceeded expectations, raking in more than R100million.

The three-day Bosasa auction exceeded expectations, raking in more than R100million.

Assets belonging to Bosasa, now known as African Global Operations (AGO), went under the hammer last week. Auctioneers, Park Village Auctions, expected to make R65m from the public sale, but can now smile all the way to the bank with the R100million success.

The auction, held at the AGO headquarters in Krugersdorp, west of Joburg, had more than 1000 registered buyers.

While some were there to snap up vehicles, such as AGO head Gavin Watson’s Porsche and BMW X5, which fetched more than a R1m, others also got their hands on the array of assets on offer.

The contents of a prayer room that included three black leather tub chairs, two leather couches, a coffee table and carpet sold for R40000.

An industrial Nespresso coffee machine, with assorted crockery, sold for R96000. The buyer is said to have bought other coffee machines that were also up for sale.

Also a big sale hit were a glass-topped U-shaped boardroom table, 20 executive leather chairs, a magazine stand and a flip-chart, which sold for a collective R242000.

Pieter Geldenhuys, of Bidders Choice, said while the headquarters, Smart Global Campus, were sold for R14m, there was hope that the new owners, Fidelity Security, would retain some staff.

“There remains a chance that some of the staff working on the campus may be retained. Should this transpire, it would be wonderful news for the festive season,” said Geldenhuys.

The Lindela Repatriation Centre sold for R60m. “Considering that the premises were well maintained and purpose built, should the buyer want to take over the contract for the centre with the government, the return on investment could be handsome,” Geldenhuys said.

He said that the Rodcor copper plant was sold for R11.5m “to be commissioned”. Geldenhuys added that negotiations were under way with other interested buyers.