BRIEF-Argent Industrial Agrees to Sell Paint Business

  • Reuters
  • Stock Market News
BRIEF-Argent Industrial Agrees to Sell Paint Business
Credit: © Reuters.

Feb 2 (Reuters) - Argent Industrial Ltd ARTJ.J :

* DISPOSAL OF PAINT BUSINESS

* HAS ENTERED INTO AGREEMENTS TO DISPOSE PAINT BUSINESS

* SALE TO FREECALL TRADING 7 PROPRIETARY LIMITED AND PROMAC PAINTS PROPRIETARY LIMITED FOR AN ESTIMATED CONSIDERATION OF R51 MILLION

* RATIONALE FOR TRANSACTION IS TO EXIT PAINT MANUFACTURING AND RETAIL INDUSTRIES

* PROCEEDS OF TRANSACTION WILL BE USED TO SETTLE EXISTING BANKING FACILITIES AND TO BUY BACK ARGENTS SHARES

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100