https://newsletter.en.creamermedia.com
Aveng|Building|Business|Engineering|Environment|fluid control|Infrastructure|rail|Roads|Sustainable|Training|Water|Infrastructure
Aveng|Building|Business|Engineering|Environment|fluid control|Infrastructure|rail|Roads|Sustainable|Training|Water|Infrastructure
aveng|building|business|engineering|environment|fluid-control|infrastructure|rail|roads|sustainable|training|water|infrastructure

Aveng sells Grinaker-LTA for R100m

12th August 2019

By: Marleny Arnoldi

Deputy Editor Online

     

Font size: - +

JSE-listed infrastructure group Aveng has sold another noncore asset, its Grinaker-LTA Building and Civil Engineering business, to the Laula Consortium for R100-million.

The Laula Consortium includes Oteo Investments Holdings, Manzini Ventures and Upsize Trading.

The Aveng Grinaker-LTA business comprises divisions called Buildings Inland, Buildings South, Buildings KwaZulu-Natal, Civil Engineering, Plant and Yard and Training School.

“We are pleased to have found the right partner to unlock Aveng Grinaker-LTA’s full potential and further enable its growth,” Aveng CE Sean Flanagan said last week.

Amid a challenging market environment, which includes depressed demand in many of the sectors in which Aveng operates, the company has been focused on simplifying and optimising its portfolio of core businesses.

Since August last year, Aveng has disposed of its Duraset Alrode, Water, Rail, Dynamic Fluid Control, Infraset, Rand Roads and Ground Engineering businesses.

Flanagan reported that the company was making progress to reduce debt and create liquidity through the sale of noncore businesses, realising a more sustainable, long-term capital structure for Aveng.

Edited by Mariaan Webb
Creamer Media Senior Deputy Editor Online

Comments

Showroom

John Thompson
John Thompson

John Thompson, the leader in energy and environmental solutions through value engineering and innovation, provides the following: design, engineer,...

VISIT SHOWROOM 
Weir
Weir

Weir is a global leader in mining technology. We recognise that our planet’s future depends on the transition to renewable energy, and that...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.16 0.245s - 162pq - 2rq
Subscribe Now