Grindrod sells stake in agricultural group Senwes
The sale forms part of a strategic move to dispose of noncore businesses with proceeds going towards paying down debt
28 December 2020 - 15:55
Grindrod subsidiary Grindrod Trading Holdings (GTH) has agreed to sell its entire stake in agricultural group Senwes to Agribel Holdings for R385.17m, according to a JSE Sens statement on Monday.
The subsidiary of the listed freight services and shipping group, which first acquired a 20.3% stake in Senwes in 2013 in a deal worth R444m, said the rationale for the sale was to dispose of certain noncore businesses with the proceeds being used to pay down debt. ..
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