JSE-listed technology services company EOH Holdings announced its plans to sell off its wholly owned subsidiary Hymax to telecommunications provider Seacom South Africa in a R144.9 million deal, the proceeds of the sale are set to go largely towards slashing the company’s debt.
“The embedded relationships that exist between our customers and other EOH business units will remain as is and the EOH Infrastructure Services business is positioned to benefit from the transaction as we leverage the Seacom connectivity expertise,” he adds.