Murray & Roberts Holdings Limited, a prominent name in the energy and infrastructure sectors, has declared a significant step forward in its growth strategy.
The company’s wholly-owned subsidiary, Murray & Roberts Ltd (MRL), has recently entered into a Sale of Business Agreement with Main Road Centurion 30311 (Pty) Ltd, heralding the disposal of its 80% stake in Aarden Solar, an unincorporated Joint Venture.
Aarden Solar, a reputable wholesaler headquartered in South Africa, specializes in an array of green energy products such as solar panels, inverters, batteries, and more.
The company’s focus on efficient procurement services for solar installations, typically ranging from 3kW to 10MW, has placed it at the forefront of the country’s solar equipment sector.
The Transaction comes with a consideration of R73 million, earmarked to bolster MRL’s working capital requirements. While most conditions precedent have been met, the finalization of the Transaction remains contingent upon the fulfilment of one resolutive condition.
Aarden Solar, as per management accounts in compliance with IFRS, reported a net asset value of R69.9 million and a profit of R6 million for the year ending 30 June 2023.
Murray & Roberts’ shift to divest its interest in Aarden Solar reflects a calculated effort to channel resources into areas aligned with the company’s strategic vision while allowing the acquired business to flourish under the guidance of an investor dedicated to its advancement.
