SUPER GROUP LIMITED
(Incorporated in the Republic of South Africa)
Reg. No 05/16107/06
COMPETITION BOARD APPROVAL
The Competitions Commission has approved Super Group's sale of BBR Security to
Chubb Security SA for R556 million. The effective date of the sale is 1 March
2001.
The sale of BBR will achieve an excellent capital return for Super Group while
simultaneously turning an asset of Super Group into a substantial cash
resource.
Dr Larry Lipschitz , Executive Chairman of Super Group, said that the proceeds
of the sale would will significantly reduce gearing resulting in a cash
positive position at year-end.
Super Group has embarked on a strategy of transforming itself from an
asset-based enterprise to one focused on technology, services, relevant
logistics assets and intellectual capital, specifically in the high growth
logistics industry. The requisite logistics assets will be retained.
Super Group retains those elements of its security business, which focuses on
the logistics chain as the growth of the logistics business necessitated a
specialisation in this niche. As Super Group continues to win more logistics
contracts, the need intensifies for the provision of improved security services
in the supply chain.
The BBR sale plus Super Group winning the R2,4 billion City of Johannesburg
transport contract will have a positive effect on the future earnings of the
group.
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