SA’s Bidvest Group waives plan to buy Eqstra Fleet Management and Logistics
Thursday, 07 May 2020 13:27
South African services, trading, and distribution company Bidvest Group announced it will no longer buy the fleet management and car rental company Eqstra Fleet Management and Logistics.
The reason, Bidvest says, is that the two partners were waiting for the acquisition process to be finalized since the end of 2019 but until May 4, 2020, Prudential Authority, a financial services regulatory body, did not give its approval.
As a reminder, Bidvest bid for Eqstra in July 2019 for R3.1 billion ($167.3 million). The finalization of the process was subject to approval from Prudential Authority, the South African Competition Commission, and enX Group Limited, which is Eqstra’s parent company.
Chamberline Moko
Live News
-
AI could add $1 trillion to Africa’s GDP by 2035, AfDB report says
17:06
-
Madagascar rolls out Wi-Fi access across public universities
16:32
-
El Nasr Automotive resumes vehicle production with Nasr Star minibuses
16:27
-
Egypt launches trial phase of Sokhna Port’s Container Terminal 1
16:12
-
Cameroon grants CFA9bn subsidy to boost Semry and Unvda rice output in 2026
16:01
-
Cavista Technologies To Host Fourth Hackathon In Lagos
14:21
-
Nigeria’s Bildup AI Raises $400,000 To Expand AI Training Platform
13:56
-
Chowdeck Partners With GoLemon To Speed Up Grocery Delivery In Nigeria
13:54
-
Cameroon extends tax exemption to public bonds issued across the Cemac region
12:31
-
Douala Airport Revamp Cleared for Take‑Off After AFD-ADC Loan Deal Sealed
11:14
AI-backed agri-fintech is increasingly being used to pilot new rural credit models in Africa, where ...
Fruitful partners with Elsewedy unit to launch processing project in Egypt New facility wil...
Investment bank BCID-AES established in Bamako Bank aims to fund infrastructure, agricultur...
This week’s health update shows Africa edging closer to the end of the mpox public health emergency,...
Standard Bank extended a USD 138 million facility to STEP, acting as sole arranger and advisor to ...
Inclusive AI deployment could add up to $1 trillion to Africa’s GDP by 2035, the AfDB said. The report lays out three scenarios, with...
Government partners with Yas to deploy campus Wi-Fi hotspots Rollout starts in Antananarivo and Tuléar before expanding nationwide Project aligns with...
Egypt unveils first locally produced Nasr Star minibuses El Nasr Automotive restarts production after more than 15 years Vehicles made with over 70%...
Trial phase begins with arrival of CMA CGM HELIUM Terminal targets capacity of up to 3.5 million TEUs per year Project supports Egypt’s push to become...
Algiers is a coastal capital of around four million inhabitants, located in north-central Algeria. Its urban structure, heritage, and social practices...
Palm Hills Developments signs agreement with Marriott International to introduce the St. Regis brand in West Cairo. Project to include a luxury...