EOH sells non-core assets to delever its R1.6 billion debt

EOH has been able to reduce its liabilities for acquisitions from R204 million to R114 million.

EOH has signed agreements for the disposal of some of its non-core assets in order to delever its R1.6 billion debt. 

The Competition Commission has approved the sale of Dental Information System Holdings signed for R250 million. The sale is now before the Competition Tribunal, waiting to be approved. 

According to a statement, the sales processes for two of the IP assets are ongoing and are in the final stages with bidders. Additionally, the sales process for the third IP asset was launched in May, with significant interest received from various bidders. 

EOH has also been able to reduce its liabilities for acquisitions from R204 million at the end of January 2020, to R114 million as at the end of May 2020. 

Read more: CFO Megan Pydigadu EOH delivered a milestone R540 million in debt in May