https://www.engineeringnews.co.za

Aveng says has received R133m for sale of Aveng Rail

28th May 2019

By: African News Agency

  

Font size: - +

South African conglomerate Aveng said on Tuesday the sale of Aveng Rail as a going concern to Mathupha Capital had now become unconditional and the cash consideration of R133-million was received on May 24.

Aveng, which is involved in steel, engineering, manufacturing, mining, concessions, public infrastructure and water treatment, said the proceeds from the sale to Mathupha, a 100% black-owned investment company, would be used to reduce overall debt.

"The sale represents an important step in the delivery of Aveng’s strategic action plan and in the refocusing of Aveng to become an international infrastructure and resources group," the company said in a statement.

"Aveng remains committed to completing the balance of the disposals, subject to acceptable value being realised."

Edited by African News Agency

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Sika South Africa
Sika South Africa

Sika South Africa is a trusted partner for the nation’s infrastructure, commercial, residential, and industrial sectors.

VISIT SHOWROOM 
Vikela Aluvin (Pty) Ltd
Vikela Aluvin (Pty) Ltd

Complete range of security sealing solutions including security seals bags and labels.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.047 0.814s - 135pq - 2rq
Subscribe Now