29th Jun 2018 15:49
LONDON (Alliance News) - Lonmin PLC said Friday that it will sell its 50% stake in Petrozim Line Ltd to the National Oil Infrastructure Co of Zimbabwe Ltd for USD14.8 million.
In addition, Lonmin will receive USD8 million in the form of special dividends from Petrozim, the company said.
The company said the transition is part of its strategy to dispose of non-core assets.
Lonmin shares were trading 1.1% higher at 41.86 pence each.
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