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Allied Electronics Corporation Limited (Altron) has finalized the sale of its 80% interest in Powertech Transformers to a consortium of SGB-SMIT and Power Matla Group. The effective date is 31 July 2018.
Power Matla Limited, Power Matla Transformers Pty Ltd and SGB-SMIT Management GmbH agreed to acquire an 80% stake in Powertech Transformers from Allied Electronics Corporation Limited (Altron) for a nominal consideration, with a ZAR 250 million loan to repay debt.