JSE-listed diversified chemicals company Omnia Holdings has successfully concluded its divestment from petroleum products producer Umongo Petroleum, which Omnia had identified as noncore during a strategic review last year. The divestment plans were announced in October 2021, when Omnia and minority shareholder Autumn Storm Investments negotiated a deal to each sell their majority interests in Umongo, which supplies lubricant additives, base oils, process oils and chemicals, as well as technical solutions to lubricant blend manufacturers in sub-Saharan Africa.
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