The Bidvest Group - Safcor Panalpina Acquisition O
The Bidvest Group
Share code: BVT
ISIN: ZAE000008132
Safcor Panalpina will acquire with immediate effect the business of
Renfreight. Both Safcor Panalpina and Renfreight are wholly owned
subsidiaries of Bidfreight within the Services Division of the Bidvest Group
Limited.
The move has been prompted in part by the recent alignment of Renfreight
with the Swiss based Panalpina Group, who have for the past 30 years been
international forwarding partners to Safcor Panalpina.
It is expected that the incorporation of Renfreight into Safcor Panalpina
will yield enhanced service levels and significant rationalisation benefits.
The trading name of the enlarged entity incorporating Renfreight will be
Safcor Panalpina.
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