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Aveng finalises water business sale

25th June 2019 BY: Marleny Arnoldi
Creamer Media Online Writer

JSE-listed construction company Aveng on Tuesday received R85-million from Infinity Partners as payment for the sale of the Aveng Water business.

Aveng announced the sale to the 100% black-owned company in January, with an original selling price of R95-million, which was subsequently reduced during the due diligence process.

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Aveng said the finalisation of the sale underpinned the company’s commitment to refocusing Aveng to become an international infrastructure, mining and resources group.

The company also remains committed to completing the balance of its planned disposals in a timeous matter when acceptable value can be realised. 

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EDITED BY: Chanel de Bruyn Creamer Media Senior Deputy Editor Online
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