Avis Strengthens Focus On Core Business Through Fu
AVIS SOUTHERN AFRICA LIMITED
Johannesburg, 6 February 2001 - Avis Southern Africa is to sell its 50% stake
in the Namibian tourism operations Oryx Tours and TNT to Tourvest and
management.
Avis, which is listed on the Namibian stock exchange, said it would maintain
close ties with these operations through long-term agreements covering joint
marketing and the continuing development of synergistic business opportunities.
It remains committed to the growth of its core Namibian businesses, Avis
Rent-A-Car and Avis Fleet Services.
The disposal of the Namibian tourism interests follows the recent sale of
Avis's 75% interest in RCI Southern Africa as well as of its holding in
Southern African Travel Services.
Chief executive Grenville Wilson said today the latest deal was part of a
refocusing process designed to concentrate the group's resources on the
development of its core car rental and fleet management businesses, both of
which offered very attractive opportunities for growth locally and
internationally. The group last year acquired the Avis operations in Norway
and Sweden in line with this core business expansion strategy.
For further information, call Grenville Wilson
or Andrew Langham on 011-923-3500
Issued by du Plessis Associates on behalf of Avis Southern Africa, Limited.
dPA contact - Helen McKane on Tel : (011) 728 4701, Fax : (011) 728 2547/8 or
cell : (0)82 330 2034
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