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Aveng to seek shareholder support for sale of GrinakerLTA stake this month

Impending Disposal

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Creamer Media Editor
 
CONSTRUCTION
Construction and engineering group Aveng will seek shareholder approval before the end of March for the sale of a 51% beneficial interest in Aveng Grinaker-LTA to Kutana Construction, a black economic empowerment company. Aveng has also decided to include Aveng Water in the transaction, along with its South African and African civil engineering, buildings and mechanical and electrical units. Prior to the inclusion of Aveng Water, the deal was valued at a maximum of R756-million, with the purchase to be settled in full by 2020.
 
 
 
 
 

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