S. Africa's Group Five to shed assets, interim results delayed

JOHANNESBURG (Reuters) - South African builder Group Five said on Friday it would be disposing of a number of assets as it enters business rescue, similar to chapter 11 bankruptcy protection proceedings in the United States.

The company, which filed for business rescue in March after its lenders pulled the plug, also said the process had delayed the release of its interim results until a later date. They had been due to be released by March 31.

(Reporting by Emma Rumney; Editing by Susan Fenton)

First Published: 2019-04-12 15:36:26
Updated 2019-04-12 15:46:22

© 2019 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. "Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.