Altron sells Powertech Transformers for R250m
Powertech Transformers was no longer considered a core asset, after Altron restructured its portfolio, Altron said
15 November 2017 - 18:02
On Wednesday, Allied Electronics Corporation (Altron) said it would sell its 80% interest in Powertech Transformers to a German consortium of companies known SGB-Smit, in a R250m deal. Powertech Transformers was no longer considered a core asset, after Altron restructured its portfolio. The proceeds of the proposed transaction would be used to reduce debt. Powertec designs, manufactures, tests and commissions a range of power and distribution transformers. The share price on the JSE settled 0.86% lower at R12.74, valuing Altron at about R5.083bn.
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