IVT - Invicta Holdings Limited - Announcement regarding the acquisition
IVT
IVT
IVT - Invicta Holdings Limited - Announcement regarding the acquisition
of equipment Spare Parts (Africa) Proprietary Limited
Invicta Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1966/002182/06)
Share code: IVT ISIN code: ZAE000029773
("Invicta")
ANNOUNCEMENT REGARDING THE ACQUISITION OF EQUIPMENT SPARE PARTS (AFRICA)
PROPRIETARY LIMITED ("ESP")
Invicta is pleased to announce that it has concluded an agreement with
the current shareholders of ESP for the acquisition of 100% of the issued
shares of ESP effective 1 January 2012, subject to the approval of the
Competition Commission ("the transaction" or "the acquisition"). ESP
specialises in the procurement and distribution of high quality
aftermarket replacement parts, including ground engaging tools and
undercarriage parts for earthmoving equipment and diesel engines. The
acquisition expands the existing capital equipment operations ("CEG") of
Invicta. Invicta intends to keep ESP`s operations and its distribution
network independent of the rest of CEG but to leverage off Invicta`s
group buying power and cost saving benefits where appropriate.
The transaction falls below the threshold of the categorisation of
transactions which require disclosure in terms of the JSE Limited`s
Listings Requirements. Nevertheless, due to the operational benefits and
future positive impact of this acquisition, the directors of Invicta
deemed it appropriate to inform shareholders of the transaction.
Cape Town
15 November 2011
Sponsor
Deloitte & Touche Sponsor Services (Pty) Ltd
(Incorporated in the Republic of South Africa)
(Registration number 1996/000034/07)
Date: 15/11/2011 12:53:18 Produced by the JSE SENS Department.
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