CLEAN-UP CAMPAIGN
EOH’s disposals a double-edged sword for CEO Van Coller
The technology group exceeds R1bn disposal target but debt and weaker assets remain a threat
17 December 2019 - 05:10
EOH has beaten its target of raising R1bn for the sale of noncore assets to pay debt as part of efforts to clean up its balance sheet following a devastating tender fraud.
CEO Stephen van Coller launched a sweeping overhaul of the technology group in October, including selling assets to reduce the firm’s R3.1bn debt pile and improve governance standards after a forensic investigation report found close to R1bn in underhanded dealings between its employees and its client, the government...
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