April 12, 2019 / 1:40 PM / 7 days ago

S. Africa's Group Five to shed assets, interim results delayed

JOHANNESBURG (Reuters) - South African builder Group Five said on Friday it would be disposing of a number of assets as it enters business rescue, similar to chapter 11 bankruptcy protection proceedings in the United States.

The company, which filed for business rescue in March after its lenders pulled the plug, also said the process had delayed the release of its interim results until a later date. They had been due to be released by March 31.

Reporting by Emma Rumney; Editing by Susan Fenton

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