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Dawn to sell stake in GDW

JSE-listed Distribution and Warehousing Network’s (Dawn’s) share price rose by 21% on Thursday morning after the company confirmed that it would sell its 49% interest in Grohe Dawn Watertech (GDW) to Lixil Corporation, which owns the other 51% of GDW. The sale follows the announcement in July that Dawn had signed a nonbinding memorandum of understanding with Japan-based Lixil for the potential disposal of Dawn’s shareholding in GDW.

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