JSE-listed logistics company Super Group is acquiring UK vehicle rental company Motiva in a deal valued at £12.4m, it said on Wednesday. Part of the acquisition will be done by issuing Super Group shares valued at £1.125m. The cash portion will be paid with £3.9m reserves and £7.4m debt. This is Super Group’s second recent UK car hire acquisition. In August, it acquired Fleet Hire in a deal valued at £25.7m. Super Group paid £19.6m and took over £6.1m debt. The group said it intended to merge the two to create a top 20 player in the UK’s vehicle rental market. Motiva is headquartered in Stoke-on-Trent, 80km north of Super Group’s UK subsidiary SG Fleet’s Hampton-in-Arden offices. It employs 50 member of staff and has a 4,300-unit fleet under management. Motiva’s contract hire division operates a fleet ranging from cars and light commercial vehicles to trucks, Wednesday’s statement said. Its vehicle rental division, branded M-Way, focuses on the light van and commercial vehicle marke...
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