Imperial eyes R4.4bn takeover of Africa-focused J&J Group
Logistics group aims to build scale and consolidate its footprint on the continent
Imperial Logistics, which recently announced it has received a R12.7bn buyout offer from Dubai Ports World (DP World), says it has inked its own R4.4bn takeover deal of Africa-focused transport firm J&J Group, its biggest to date, a transaction which would grow its fleet by about a third.
Among the benefits for Imperial of the potential deal are access to new high-quality clients, scale in terms of trucks and fuel procurement and presence. CEO Mohammed Akoojee told Business Day on Thursday that the biggest benefit was likely to be access to a critical trade lane to the port of Beira in Mozambique...