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FALLEN asbestos producing giant, Shabanie Mashava Mines Holdings (SMM Holdings) has entered into an agreement to shed off its 43.22 % stake in rubber and chemicals producer, General Beltings Holdings Limited (GB).
SMM, formerly owned by South Africa based Zimbabwe businessman Mutumwa Mawere, has since reported plans to dispose of land and properties it owns to help pay off debts and recapitalise to resume operations.
The company was mothballed nearly 15 years ago and placed under the management of an administrator due to massively choking debts mainly owed to government.
Restarting operations has remained a dream due to slow and complicated procedures, legal and otherwise, that have had to be followed.
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