https://www.engineeringnews.co.za
Engineering|Manufacturing|Mining|rail|Resources|Steel|Water|Manufacturing |Infrastructure
Engineering|Manufacturing|Mining|rail|Resources|Steel|Water|Manufacturing |Infrastructure
engineering|manufacturing|mining|rail|resources|steel|water|manufacturing-industry-term|infrastructure

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

Comments

Showroom

Stewarts & Lloyds
Stewarts & Lloyds

Stewarts & Lloyds today supplies steel and tube, pipe and fittings, valves, pumps, irrigation, fencing, profiling and roofing products. The cash...

VISIT SHOWROOM 
Multotec
Multotec

Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...

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







sq:0.293 0.348s - 163pq - 2rq
Subscribe Now