South African engineering giant Dorbyl has confirmed it is to sell its high profile Midas chain of spares distributors, in line with its policy of disposing of non-core assets, writes Dave Cumming.
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The company has declined to identify the buyer but there is strong industry speculation that Midas will be the subject of a management buyout after completion of funding negotiations.
This follows the recent acquisition by Super Group, itself an owner of a chain of spares outlets, of Spares Link, an opposition chain. Super Group is one of South Africa’s largest diversified transport and logistics companies.
