SEPARATE LISTINGS
Imperial’s unbundling will depend on results
Imperial Holdings posted "solid" results for the six months ended December 2017, as talk of unbundling its Motus integrated motor vehicle group from its logistics arm came into focus. The group said the "key strategic question" was whether the long-term fortunes of its Imperial Logistics and Motus divisions would be boosted by separate listings. A decision would be made by June 2018. The share dropped 9.87% at the close of trade on Tuesday to about R247. "We are not trying to get out of SA in any way," Imperial CEO Mark Lamberti said on Tuesday. He said the group would base any unbundling on its annual results to June 2018. Splitting Imperial Holdings, which employed about 49,000 people in 33 African and European countries, into logistics and vehicle sectors would be carried out on the JSE. But for Motus to grow, it would have to happen outside of South African markets, he said. Activities in Africa produced 63% and 80% respectively of group revenue and operating profit during the s...
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