Metair may start splitting up by the end of this year
The owner of First National Battery says spinning off the energy business would release shareholder value
Metair could commence splitting itself into two in the fourth quarter, separating its European-based acid battery business from its faster-growing SA automotive components maker, MD Theo Loock said on Wednesday.
Splitting the two businesses will allow Metair’s shareholders to attach value to the energy business, whose major asset is Turkey-based lead acid battery maker Mutlu Akü. The automotive components business is locally based, focused on SA vehicle manufacturers...