Johannesburg, 09 July 2024 – AECI Limited, a leader in explosives in Africa, is pleased to announce the signing of a Sale and Purchase Agreement (SPA) for the sale of its Animal Health business, as a going concern, to Nutreco International B.V (South African subsidiary is Trouw Nutrition South Africa Proprietary Limited).
This strategic move aligns with our recently announced strategy, to streamline operations and focus on our core competencies, ensuring continuous growth and value creation for our stakeholders. Nutreco is recognised worldwide for its commitment to excellence and innovation, making it the right home for the Animal Health business and our people.
Holger Riemensperger, Group CEO of AECI, commented, “We are pleased to have found a partner that shares our vision and values in Nutreco. This transaction represents a significant milestone in our journey, and we are confident that the Animal Health business will thrive under Nutreco’s leadership.”
The transaction is subject to customary closing conditions, including regulatory approvals and the satisfaction of other agreed-upon terms. We anticipate the transaction to close in four to six months.
We remain focused on the successful execution of our strategy. This transaction affords us the opportunity to concentrate our efforts and resources to achieve our ambition to double profitability of the core business (Mining and Chemicals) by 2026 and attain a global market position in Mining of number 3 by 2030.
We extend our sincere thanks to all employees, customers, suppliers and partners for their dedication and support. We look forward to a seamless transition and continued collaboration with Nutreco in the future.
Download the full press release here.
For more information, please contact:
Zanele Salman
VP: Investor Relations zanele.salman@aeciworld.com
groupcommunications@aeciworld.com
AECIInvestorRelations@aeciworld.com
AECI website: www.aeciworld.com
Nutreco website: www.nutreco.com
