Omnia to add to cash pile with R1bn sale of Umongo Petroleum stake

Omnia to add to cash pile with R1bn sale of Umongo Petroleum stake

2021-10-21 03:29:00 PM

Omnia to add to cash pile with R1bn sale of Umongo Petroleum stake

The group, which had net cash of R1.8bn at the end of March, will be selling 90% of its stake in the lubricants and oils business

Karl GernetzkyChemicals, fertiliser and explosives group Omnia has agreed to sell 90% of its stake in Umongo Petroleum for R1bn, adding to the cash pile of a group that extinguished its debt during its year to end-March.The group is set to sell 90% of Umongo to a subsidiary of Belgium-based Azelis, a further boost to a group that had R1.8bn in net cash at the end of March...

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Omnia to add to cash pile with R1bn sale of Umongo Petroleum stakeThe group, which had net cash of R1.8bn at the end of March, will be selling 90% of its stake in the lubricants and oils business I was introduced into his platform by a friend I met online Dennismayson9. I thought it was a scam company as well.... But I was moved to try once again with Dennismayson9 I just wanna share this with my people, it was a WIN and i am GREATFUL.🙏🙏🙏🙏 GRATITUDES.

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