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
-
Egypt’s Suez Canal Zone signs $8 mln Turkish textile plant deal
07:09
-
Benin: A Decade of Infrastructure-Driven Transformation
06:58
-
Cameroon ‘B’ Rating Affirmed by Fitch; New Vice-Presidential Role Seen as Stabilizing
06:35
-
Lobito Corridor’s Financing Timeline Set to Run Through 2027, Adding Uncertainty to Project Outlook
06:23
-
Cameroon’s SNH Tightens Oil Contracts as Market Volatility Reshapes Pricing
04:25
-
Cameroon Plans 28 km Bypass to Ease Congestion on Key Douala-Bangui Corridor
03:59
-
Cameroon Opens Public Review of Environmental Impact for Edéa Quarry Project
20:13
-
CEMAC Looks to Its Own Markets to Fund Infrastructure and Reduce Reliance on Foreign Capital
19:23
-
RAINE project enters operational phase with “Mawuse” tunneling machine
19:19
-
National AI Program Positions Algeria for Digital Growth
16:43
Enko Capital acquires Servair’s fast-food unit in Côte d’Ivoire, including the Burger King franchi...
Mediterrania Capital bought Australian Amcor's Moroccan packaging unit Enko Capital took ov...
Central bank to release $1 billion in cash to curb black market demand Move aims to ease inf...
From eastern Chad, where measles and meningitis are spreading through overcrowded refugee camps, to ...
As the Japanese automaker faces global headwinds, it is doubling down on its operations in Egypt, ai...
Egypt signs $8M deal for textile plant in SCZone Factory to create 700 jobs, export 90% of output Investment supports textile export growth...
Over the past decade, Benin has undergone a deep transformation of its infrastructure. Driven by substantial investment, the country has modernized its...
AFC plans 2026 fundraising for Zambia Lobito railway section Financial close targeted 2027; delays could threaten 2030 deadline Viability concerns...
UBA's Nigerian home market posted a 1.7 billion naira ($1.1m) pre-tax loss in 2025, against a 364 billion naira profit a year earlier A 117 billion...
The history of Kerma stretches back several millennia. Located in what is now northern Sudan, the site was inhabited as early as prehistoric times....
CANAL+'s film arm backs a ZAR 300-million feature rooted in South Africa's anti-apartheid music movement. Production kicks off June 29 in Cape Town,...