# enX Group divests EIE Group to CFAO South Africa for R700 million

enX Group concluded agreements with CFAO South Africa for the divestment of EIE Group, its Southern African materials handling business, for an aggregate consideration of R700 million.

- Type: Acquisition
- Announced: 2021-11-29
- Where: South Africa
- Value: $45.0M (700.0M ZAR)
- Status: announced
- Products: materials handling equipment
- Sectors: [Material Handling](https://endata.com/sectors/material-handling.md)

## Companies

- [enX Group](https://endata.com/companies/55912.md)
- [EIE Group](https://endata.com/companies/23665.md) (target)
- [CFAO South Africa](https://endata.com/companies/59322.md) (acquirer)

## Sources

- [listcorp.com](https://www.listcorp.com/jse/enx/enx-group-limited/news/update-on-divestment-of-enx-s-southern-african-materials-handling-business-2639938.html), 2021-11-30: "Shareholders are advised that on 29 November 2021: - enX, CFAO South Africa and EIE Group concluded the subscription agreement; and - enX and EIE Group concluded an agreement regarding the share repurchase, to give effect to the proposed transaction subject to the completion of the remaining conditi"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.