Shanduka Resources is selling an 11.8% stake in South African mine holding company, Assore, Bloomberg reports. The investment management firm will get a total of $394 million from the sale.

As a part of the deal, Shanduka will sell the stake in Assore at $18.12 per unit. A special purpose vehicle owned by two independent empowerment trusts, Main Street 343, is the buyer of the Assore stake, adds Mail & Guardian.

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