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AECI to dispose of ImproChem Public Water division, finalises Much Asphalt sale
JSE-listed chemicals group AECI will dispose of its wholly-owned water and process solutions subsidiary ImproChem Public Water business to a South African majority black-owned special purpose vehicle, with water treatment speciality chemicals business Nsukutech as the controlling shareholder and Junaco, incorporated in Tanzania, as the minority shareholder. It has also successfully concluded the divestment of Much Asphalt. This disposal closed in line with the previously guided purchase consideration of R1.1-billion. The purchase consideration has been transferred to AECI and will be used in line with AECI's capital allocation framework, it says.
JSE-listed chemicals group AECI will dispose of its wholly-owned water and process solutions subsidiary ImproChem Public Water business to a South African majority black-owned special purpose vehicle, with water treatment speciality chemicals business Nsukutech as the controlling shareholder and Junaco, incorporated in Tanzania, as the minority shareholder. It has also successfully concluded the divestment of Much Asphalt. This disposal closed in line with the previously guided purchase consideration of R1.1-billion. The purchase consideration has been transferred to AECI and will be used in line with AECI's capital allocation framework, it says.
