Struggling Omnia can be turned around, new CEO insists

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Seelan Gobalsamy says the firm will use R2bn from rights offer to partly pay off debt

New Omnia CEO Seelan Gobalsamy has prioritised stabilising the troubled company’s balance sheet, reviewing its different investments and ultimately developing a new growth strategy.

The insurance and investment industry veteran has a tough task ahead of him as he attempts to turn the struggling chemicals and fertiliser company Omnia Holdings around.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

 

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