July 2, 2020 |
Chilean explosives company Enaex said Wednesday that it acquired a 51% stake in the explosives division of the South African energy and chemical company Sasol for $30.8 million, expanding its reach into what it expects to be a growth market.
Enaex, a subsidiary of the Chilean conglomerate Sidgo Koppers Group, said Sasol will retain the other 49% in the new Enaex Africa joint venture, according to a securities filing.
The deal widens Enaex's business to Africa, which it said is the third-largest
Chilean company widens global reach in a $30.8 mln deal with Sasol