BIDVEST - ACQUISITION OF A 17% INTEREST IN TIGER WHEELS LIMITED
Bidvest Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1946/021180/06)
Share code: BVT ISIN: ZAE000050449
(`Bidvest`)
Acquisition of a 17% interest in Tiger Wheels Limited (`Tiger Wheels`)
Investec Bank Limited is authorised to announce that Bidvest has acquired 10 200
000 shares at a price of R23,52 per share representing approximately 17% of the
total issued shares of Tiger Wheels for a total purchase consideration of
R239,928 million. Bidvest has an American call option to purchase a further 1
800 000 shares at R25,00 per share in order to increase its stake to
approximately 20%. The option is valid until 30 April 2005.
Tiger Wheels is a group of companies focused on the automotive aluminium wheel
and passenger car tyre industries, which supplements Bidvest`s exposure to the
automotive industry. Brian Joffe will be appointed as a non-executive director
to the board of Tiger Wheels.
Sandton
January 21, 2005
Corporate adviser and lead sponsor to Bidvest
Investec Bank Limited Corporate Finance
Joint sponsor to Bidvest
Deutsche Securities
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