Christo Wiese’s industrial holding company Invicta is selling four businesses for about R607m to pay down its most expensive debt.
The group will be selling the businesses for a cash consideration equal to the tangible net asset value of about R507m, which excludes their interest-bearing debt, as well as an additional $6m for goodwill.Landboupart, which distributes replacement spare parts for the agricultural and industrial markets; and Northmec, a supplier of farming equipment in SA.
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