IMPERIAL HOLDINGS LIMITED - Acquisition by Imperial of Palletways Group Limited Concluded
IPL 201607060008A
Acquisition by Imperial of Palletways Group Limited Concluded
Imperial Holdings Limited
Incorporated in the Republic of South Africa
Registration number: 1946/021048/06
Ordinary share code: IPL ISIN: ZAE000067211
Preference share code: IPL ISIN: ZAE000088076
(“Imperial” or “Company”)
ACQUISITION BY IMPERIAL OF PALLETWAYS GROUP LIMITED CONCLUDED
Shareholders of Imperial are referred to the Company announcement
released on Stock Exchange News Service of the JSE Limited on 1 June
2016 wherein shareholders were advised that Imperial Mobility
International B.V., a wholly-owned subsidiary of Imperial, entered into
a conditional agreement, with, inter alia, Phoenix Equity Partners
Limited to acquire 100% of the issued share capital of Palletways Group
Limited and its subsidiaries, for a consideration of £162.9 million
(ZAR3.8 billion), subject to approval by the European Competition
Authorities.
Imperial is pleased to advise its shareholders that the acquisition was
approved by the European Competition Authorities and is now
unconditional.
Palletways’ management have co-invested alongside Imperial to own
5% of the shares. Imperial has paid £155.1 million (ZAR3.0 billion)
for its 95% share, which was settled through existing unutilised
foreign credit facilities.
The effective date for the transaction was 5 July 2016.
Company Secretary
RA Venter
Bedfordview
6 July 2016
JSE Sponsor:
Merrill Lynch South Africa (Pty) Limited
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