# Aveng sells Trident Steel business for R700 million

Aveng Group entered into a sale agreement to dispose of its Trident Steel division as a going concern to Trident Steel Africa Proprietary Limited for R700 million, retaining a 30% interest for up to one year.

- Type: Acquisition
- Announced: 2022-10-04
- Where: South Africa
- Value: $40.0M (700.0M ZAR)
- Status: announced
- Products: steel products
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [Aveng](https://endata.com/companies/5254.md)
- [Trident Steel Africa Proprietary Limited](https://endata.com/companies/65730.md) (acquirer)

## Sources

- [listcorp.com](https://www.listcorp.com/jse/aeg/aveng-group-limited/news/disposal-of-trident-steel-and-withdrawal-of-cautionary-announcement-2774954.html), 2022-10-04: "Aveng has entered into a Sale of Business Agreement to dispose of the business of Trident Steel as a going concern to Trident Steel Africa Proprietary Limited for an amount of R700 million."

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