News/ Article

PRESS RELEASE

AECI TO SELL ITS SHAREHOLDING IN CREST CHEMICALS

Monday, 29 July 2019

The AECI Group has agreed to sell its 50% shareholding in Crest Chemicals to its joint venture partner, Brenntag (Holding) BV, for a cash consideration of R390 million.

Crest has been a 50:50 joint venture between the two companies since 2001.

Crest is based in Midrand, Johannesburg, and is a distributor and reseller of chemicals to a broad range of South African industries including Industrial, Paint and Coatings, Food, as well as Mining and Water.

Commenting on the transaction Mark Dytor, AECI Chief Executive, said: “Crest has been a valuable asset in our Group’s portfolio for several years. However, both shareholders have now agreed that the business will be better served under a single owner.”

Closing of the transaction is subject to certain conditions precedent, including approval by South Africa’s Competition Commission. It is expected to be finalised before the end of 2019.

Enquiries
Dean Murray
AECI Executive
Dean.murray@aeciworld.com
Tel. +27 82 900 7578


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