Mathupha Capital has agreed to acquire Aveng Rail for R133 million (or US$9m)

Mathupaha Capital has agreed to buy Aveng Rail for R133 million (or US$9m) which is subject to regulatory approval, including the South African Competition Commission. Aveng Rail builds, operates and maintains track networks across Southern Africa. The company which is part of the JSE listed Aveng also owns mechanised track maintenance equipment. Aveng has had to unbundle its assets due to the financial constraints in the construction sector. Mathupha Capital is a black economic empowerment investment company that invests in strategic companies that design, engineer, construct and manufacture products supplied to the rail sector.

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