Cape Argus E-dition

Stefanutti to sell its 49% stake in ATS

| Edward West

STEFANUTTI Stocks planned to sell its 49 percent stake in Al Tayer Stocks (ATS) to Investment Trading Group LLC for R87.3 million as part of its broader restructuring plan to sell noncore assets, the local construction group said in a statement yesterday.

The aim of the restructuring is to position Stefanutti Stocks for longterm growth.

ATS delivers projects in the interior fit-out and design and building sectors in the United Arab Emirates.

Al Tayer owns the remaining 51 percent interest of ATS.

MONEY

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2021-06-25T07:00:00.0000000Z

2021-06-25T07:00:00.0000000Z

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