Chlor Alkali disinvest from Botash
South African company, ChlorAlkali Holdings has announced intentions to disinvest in Botswana Ash ( Botash).
The Bud Group’s subsidiary Chlor- Alkali Holdings ( CAH), a 50 percent shareholder in Botash in a joint venture with government, has engaged The Ministry of Minerals and Energy on the decision.
“We have enjoyed an excellent working relationship and partnership with the Government of Botswana as well as the progressive investment climate in which we have operated.
“Botash is fortunate to have a stable board and management as it journeys forward, and we are of the firm view that there will be suitable and value- adding partners interested in the opportunity,” said Bud Group Management in a statement this week. Botash has assured stakeholders that the Bud Group restructure will in no way impact on, or interfere with the ongoing plans and it will be business as usual for the company.
The Ministry of Minerals and Energy is currently providing its support to find an appropriate investor to replace ChlorAlkali Holdings. In addition, the shareholders say Botash is on an exciting growth path with some very interesting capital projects in the pipeline. “The Ministry is pleased to have been in partnership with CAH at Botash. Our partners have shown commitment since we started working together in the business in 2009. We are happy that the business has grown to where it is now and wish to thank CAH as they prepare to exit Botash. We will be working closely with CAH to ensure that the exit does not affect the operations at BotAsh,” said the Ministry of Minerals and Energy.