| Tue 13 Nov 2007, 17:58 | | IPL / IPLP - Imperial - Sale Of Air Contractors An |
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IPL IPLP
IPL
IPL / IPLP - Imperial - Sale Of Air Contractors And Naturelink
Imperial Holdings Limited
Registration number: 1946/021048/06
Ordinary Share code: IPL
ISIN: ZAE000067211
Preference Share code: IPLP
ISIN: ZAE000088076
("Imperial" or "the group")
SALE OF AIR CONTRACTORS AND NATURELINK
Air Contractors
Pursuant to its previously announced intention to dispose of its Aviation
division, Imperial Holdings has reached agreement for the disposal of the Air
Contractors group (ACL), its European airfreight and leasing business to CMB
n.v., a listed Belgian shipping and logistics group. CMB is currently
Imperial`s co-shareholder in ACL, and will partner with the Brussels based asset
manager, Petercam, to acquire Imperial`s shares in ACL. The transaction is
subject to regulatory approvals.
ACL, including its subsidiary group, BAC, owns 25, and operates a further 14
aircraft in Europe, including Airbus 300, ATR 42 and ATR 72 freighter and
passenger aircraft.
Imperial`s partnership with CMB in ACL dates back to 1998.
Concurrent with the acquisition by CMB, ACL is at an advanced stage of
concluding a transaction with the French Post Office, La Poste, to acquire its
airfreight subsidiary, Europe Airpost (EAP). The acquisition will augment ACL`s
European freight operations, and increase its fleet. It is expected that this
transaction will take effect after the disposal of Imperial`s interests in ACL.
Naturelink
In addition, the group has concluded an agreement whereby Naturelink, a general
aviation subsidiary of Safair, has been sold to 1time Holdings Limited (a
recently listed aviation group and holding company of 1time, a low cost carrier
in South Africa) and management. The transaction is subject to regulatory
approvals.
The process for the disposal of the remainder of Imperial`s Aviation Division
(excluding NAC) is continuing and further announcements will be made in due
course.
Johannesburg
13 November 2007
Sponsor
Merrill Lynch South Africa (Pty) Limited
Date: 13/11/2007 17:58:01 Produced by the JSE SENS Department.
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