Seacom shopping for Network Solutions and Hymax for R145 million

EOH has introduced that it concluded agreements to divest from its Network Solutions enterprise and promote the complete issued share capital of Hymax to Seacom for R144.9 million.

The firm stated the transaction’s proceeds would primarily be utilized to cut back its debt additional.

“EOH-NS and Hymax have vast experience in the delivery of wholesale and managed service solutions for the networking and voice segments of the telecommunications industry,” the corporate stated in a discover to shareholders.

Explaining its determination to promote the 2 stakes, EOH stated that it launched into a technique of focused disposals over the previous two years, which incorporates capital-intensive property.

“EOH has looked to ensure that EOH-NS and Hymax can continue investing in world-class infrastructure and maintain their service excellence,” it said.

The transaction includes two inter-conditional agreements: the sale of the EOH-NS enterprise as a going concern to Hymax and the sale of the complete issued share capital of Hymax to Seacom.

It will take impact on the primary day of the month instantly following the month inside which the fulfilment or waiver of the suspensive circumstances relating to the sale of shares is met.

This course of is estimated to take three to 5 calendar months, with circumstances needing to be met by 31 August 2022.

These embrace requisite board and shareholder approval and unconditional approval from competitors authorities.

Now learn: EOH promoting data companies corporations for R417 million

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