Summary
- The coronavirus pandemic has hurt countless companies and forced them to rethink on their business strategies and restructuring plans.
- Amid shrinking demand, stalling of operational activities, and growing uncertainties, several companies took steps to reduce their cost base. At the same time, many divested their non-core asset or non-core business to focus on their core business.
- Fleet leasing provider Eclipx signed an agreement with Growth Factor Group to sell its entire stake in Right2Drive for up to A$26.5 million.
- The sale of Right2Drive would accomplish the non-core divestment program of Eclipx, which is an essential component of the Companys Simplification Plan, devised a year back, way before the current unforeseen sce…
Read the full article at: https://kalkinemedia.com/au/news/stock-market/businesses-getting-rid-of-non-core-assets-car-leasing-player-eclipx-dumps-right2drive
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