Engineering and contracting group Murray & Roberts (M&R) will sell its 80% interest in Aarden Solar to Main Road Centurion 30311 for R73-million.
Aarden Solar is a wholesaler of solar panels, inverters, batteries and related green energy products. It provides its clients with an efficient procurement service for products suitable for solar installations, generally ranging from 3 kW to 10 MW.
The business is not strategic to M&R and requires further investment to support its growth, which the buyer will provide.
M&R will use the proceeds of the transaction for its working capital requirements.
M&R's share price on the JSE rose by 5.19% on August 22.