Aveng in ‘advanced talks’ to sell Trident Steel

Infrastructure and mining services group Aveng says it is in advanced talks to sell its Trident Steel business to a “credible buyer”, the last remaining significant asset on the chopping block in a disposal strategy dating back to 2018.

Trident Steel supplies a wide range of steel, including automotive blanks, special steel, structural and plate, as well as pipe and tube, and the group said at the time it was unlikely to sell the business by the end of June. The group, now valued at R1.8bn on the JSE, had said it remained committed to selling Trident, and has sold off R1bn in assets since a disposal strategy launched in 2018, including selling off manufacturing and rail interests, as well as property.

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