EOH Mthombo sells four businesses for R417m as it scales down

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EOH Mthombo sells four businesses for R417m as it scales down
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Proceeds at the infamous public sector division will be used to pay down debt

EOH has sold four businesses under its infamous public sector division for R417m, the technology group said on Friday, as it continues to scale down its business and work to reduce debt.

The group has been under pressure in recent years after uncovering dubious transactions related to public sector contracts that forced it to restate previous results. The errors occurred under the previous management, and CEO Stephen van Coller was appointed in 2018 in a bid to save the group...

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