# Phatisa increases stake in Kanu Equipment to 85%

Phatisa reached an agreement to buy Torre Industries' remaining shareholding in Kanu Equipment Limited, increasing Phatisa's stake to 85% and management's to 15%. Kanu is a heavy-equipment supplier in Africa.

- Type: Acquisition
- Announced: 2017-07-07
- Status: announced
- Products: heavy equipment, agriculture equipment, construction equipment, mining equipment
- Sectors: [Mining Equipment](https://endata.com/sectors/mining-equipment.md)

## Companies

- [Torre Industries](https://endata.com/companies/20158.md) (partner)
- [Kanu Equipment](https://endata.com/companies/20159.md) (target)
- [Phatisa](https://endata.com/companies/25444.md) (acquirer)

## Sources

- [savca.co.za](https://savca.co.za/phatisa-backs-kanus-vision-to-build-africas-leading-equipment-business/updates-news-and-blogs/), 2017-07-07: "Phatisa has reached an agreement with JSE-listed Torre Industries Limited (Torre), whereby Phatisa and Kanu management buy Torre’s remaining shareholding in Kanu Equipment Limited (Kanu)."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.