Mencast Holdings proposes to dispose minority interest in Vac-Tech Engineering for max consideration of $8.8 mil

Mencast Holdings has proposed to dispose of its minority interest in Vac-Tech Engineering.

The company, through its subsidiary, Mencast Energy, along with Vac-Tech Engineering’s other shareholders, entered into a sale and purchase agreement (SPA) with Blue Planet Environmental Solutions on Dec 17. The SPA will see Blue Planet Environmental Solutions purchasing a 100% stake in Vac-Tech Engineering comprising three million issued and paid-up ordinary shares.