Asset sale may be a windfall for Omnia investors
Chemicals and fertiliser group accepts offer of R2.5bn for its prized Oro Agri business
19 October 2020 - 07:54
UPDATED 19 October 2020 - 16:19
Chemicals and fertiliser group Omnia is considering a special dividend and share buybacks after accepting a R2.5bn offer for its prized Oro Agri business — a sale that could extinguish debt and leave it with a sizeable war chest.
This could put the group in a position to reward shareholders who were tapped for R2bn via a rights issue in September 2019, as Omnia battled a debt pile that also required it to negotiate new terms with lenders...
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