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South Africa: Murray and Roberts to exit Middle East

South Africa’s Murray and Roberts (M&R) will exit the Middle East as part of its 314 million rand ($23 million) disposal of its infrastructure and building business, it said on Monday.

The engineering and construction group announced the sale of the business, excluding the Middle East arm, in 2016 to Firefly Investments, which represents a consortium led by black-owned Southern Palace Group, as part of its drive to focus on the global natural resources sector.

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