The Industrial Development Corporation of South Africa Limited, Commuter Transport Engineering (Pty) Ltd, National Union of Metalworkers, management and an employee trust acquired Union Carriage & Wagon Company (Pty) Limited from Murray & Roberts Holdings Ltd. (JSE:MUR) for €23 million on January 29, 2013. Sandanathi Gwina, Matodzi Ratshimbilani, David Wanda and Busi Mbokazi of Tshisevhe Gwina Ratshimbilani Incorporated acted as legal advisor for the buyers. PSG Capital acted as financial advisor for buyers. PricewaterhouseCoopers International Limited acted as due diligence provider while The Standard Bank of South Africa Limited acted as financial advisor and Webber Wentzel acted as legal advisor for Murray & Roberts Holdings Ltd.

The Industrial Development Corporation of South Africa Limited, Commuter Transport Engineering (Pty) Ltd, National Union of Metalworkers, management and an employee trust completed the acquisition of Union Carriage & Wagon Company (Pty) Limited from Murray & Roberts Holdings Ltd. (JSE:MUR) on January 29, 2013.