Aveng says has received R133m for sale of Aveng Rail

World News: . []

South African conglomerate Aveng said on Tuesday the sale of Aveng Rail as a going concern to Mathupha Capital had now become unconditional and the cash consideration of R133-million was received on May 24. Aveng, which is involved in steel, engineering, manufacturing, mining, concessions, public infrastructure and water treatment, said the proceeds from the sale to Mathupha, a 100% black-owned investment company, would be used to reduce overall debt.

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