MIC Investment Holdings to acquire Metrofile
The Tribunal has approved the merger of MIC Investment Holdings and information management company, Metrofile.
MIC is an investment company and is a wholly owned subsidiary of the Mineworkers Investment Company; and Metrofile handles physical and digital information and record management.
The Tribunal has approved the merger without conditions.
The Mineworkers Investment Company, which owns MIC, is controlled by the Mineworkers Investment Trust (MIT) and is referred to as the MIC Group.
The MIC Group invests in cash generative assets that allow it to pay a dividend to MIT to fund social upliftment programs for members of the National Union of Mineworkers.
The Metrofile Group provides services and products which include records archiving, storage, retrieval and destruction; conversion of paper and analogue records to digital formats; and storage of backup media.
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