FRANS PIENAAR BUYS SIVUNO MILLING FOR E2.3 MILLION

MBABANE – Sivuno Milling has been purchased by Businessman Frans Pienaar for E2.3 million through public auction.  

  
The commercial property located at Sidvokodvo, Manzini went under the hammer after being put up for auction pursuant to a writ of execution in the matter between Sivuno Milling, Peter Michael Hein, Peter Melville Thompson and Nedbank Swaziland.

The reserve price of the property, that was sold at a fairly attended auction which attracted about five bidders, had been fixed at E2 025 000.  The property which was sold at the Regional Administrator’s offices last Friday comprises of three offices, warehouse, a storeroom and a covered verandah, has staff quarters (six rooms), ablution block (shower room and toilet) and a guard house.

The property sits on an area measuring 2 9937 hectares.
Asked why he found milling a viable investment, Pienaar could only say he resides at Sidvokodvo and believes that the area has so much room for development.

When pressed to disclose what business he intends pursuing at the premises, he kindly asked to be allowed to disclose the details at a later stage.   
Sivuno Milling (Pty) Ltd was established in 2013, after it was bought from its prior operators - Nkonyeni Milling. The milling operation is a relatively old business which was established in 1994 with equipment sourced from South Africa.  It produced Ingwe Maize products.

 

Post your comment

Your name:

Your e-mail address:

Add your comments:

Please enter the code you see in the image:

Image:

Code: