EnX to dispose of its lubricants segment for R275.6m

Diversified industrial group enX is to dispose of its lubricants segment for R275.6m, it said on Friday. The transaction will be executed through its units, enX Trading and enX Leasing.

The companies have entered into a sale of shares agreement with Abakhulu Investments, in terms of which enX Trading will dispose its 66% interest, including loan claims, in Centlube, its 100% interest, including loan claims, in Ingwe Lubricants and its 37% interest in Zestcor Eleven, and enX Leasing will dispose of its loan claim in Ingwe, for an aggregate base price of R275.66m...