Aveng - completion of Aveng Rail sale

Tuesday 28th May, 2019
On 3 October 2018, Aveng announced the sale of Aveng Rail, as a going concern, to Mathupha Capital, a 100% black owned investment company.

The transaction has now become unconditional and the cash consideration of R133 million was received on Friday 24 May 2019. The proceeds from the sale will 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. Aveng remains committed to completing the balance of the disposals, subject to acceptable value being realised.
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