Ailing construction group Basil Read has announced that its French-based parent company, Bouygues Travaux Publics, will sell 51% of Basil Read to an empowerment consortium.

Construction group's major shareholder has agreed to sell almost 52% of the group to a black consortium

South African resources and financial services group Metallon yesterday announced plans for the launch of a new privately-held property development company, Metallon Properties.

Scenes of a public tussle between key black empowerment groupings look set to be replayed when or if Johnnic decides to sell its media and entertainment assets housed in Johnnic Communications.