Aveng Announces Sale Of Infraset

Aveng announced this week, the sale of 100% of its manufacturing business unit, Aveng Infraset, including the Infraset businesses in South Africa, Zambia, Mozambique, Swaziland and Zimbabwe, as going concerns to Colossal Africa Consortium for a total value of R200 million. The transaction will be structured on a cash and debt-free basis with R180 million to be settled in cash on the effective date and a further cash top up of R20 million payable within two years (if certain conditions are met),

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