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business|energy|engineering|road|service|solar|contracting|products

M&R to sell stake in Aarden Solar

22nd August 2023

By: Creamer Media Reporter

     

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Engineering and contracting group Murray & Roberts (M&R) will sell its 80% interest in Aarden Solar to Main Road Centurion 30311 for R73-million.

Aarden Solar is a wholesaler of solar panels, inverters, batteries and related green energy products. It provides its clients with an efficient procurement service for products suitable for solar installations, generally ranging from 3 kW to 10 MW.

The business is not strategic to M&R and requires further investment to support its growth, which the buyer will provide.

M&R will use the proceeds of the transaction for its working capital requirements.

M&R's share price on the JSE rose by 5.19% on August 22. 

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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