Amount of money needed to fix ISG’s finances ‘way bigger’ than first thought, entrepreneur who tried to buy firm says

By Dave Rogers2024-09-25T06:00:00

Andre Redinger says stricken contractor’s liabilities were ‘three or four times’ amount he first offered, leading to reduced bid this month

The South African entrepreneur who was set to buy ISG has told Building that the amount of money needed to put the business back on an even keel was “three or four times” the initial value of the price he offered for the firm.

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