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Atlas seeks new acquisitions in Africa after Ethiopia exit

Atlas Development & Support Services chief executive Carl Esprey. FILE PHOTO | SALATON NJAU

Troubled Atlas African Industries says it is seeking new business acquisitions in the continent following its decision to exit Ethiopia by selling its bottle manufacturing plant.

The loss-making logistics firm, which is listed on the Nairobi bourse, announced on Friday that it is divesting from TEAP Glass after Ethiopian authorities forcefully seized its $2.4 million (Sh240 million) following a tax dispute.

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