JSE-listed Stefanutti Stocks has advised that not all conditions precedent to the proposed sale of its Mining Services division to Akhona Mining Services have been fulfilled or waived and, consequently, the disposal will no longer proceed.
In April, Stefanutti reported that it had entered into a sale of business agreement with Akhona.
Under the terms of the proposed disposal, the Mining Services division, comprising the Materials Handling and Tailings Management subdivisions, would have been sold to Akhona.