Years after starting a process to sell its non-core assets, JSE-listed technology group Altron has received regulatory approval to dispose of the last company it had a controlling interest in which it had ring-fenced for sale.
The group said on Tuesday that it has received approval from the Competition Commission to sell Altech UEC, its set-top manufacturing business, to Skyblu Technologies.
“The approval marks the conclusion of Altron’s disposal of assets, in which it had a controlling interest or fully owned, that are no longer core to its strategy as a technology company,” it said in a statement.
“I am pleased that the sale of Altech UEC was done in a considered manner and that Skyblu Technologies will carry on the legacy of a proudly South African company and continue to offer employment opportunities and services to customers,” said Altron CEO Mteto Nyati.
Source: Tech Central