Torre Industries sells 55% stake in Kanu Equipment to African Agriculture Fund

Torre Industries sold its 55% stake in Kanu Equipment to the African Agriculture Fund (AAF) in a deal valued at $26.7 million. The transaction eliminates Torre's external debt and provides a significant net cash position. Kanu supplies earthmoving, forestry, agricultural and construction equipment across Africa.

“Torre Industries, an industrial holding company whose main activity is the distribution of branded capital equipment and other products, has sold its 55% stake in Kanu Equipment.”businessday.co.za

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• businessday.co.zaTorre sells its stake in Kanu EquipmentMark AllixNov 23, 2016

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