Bidvest to buy Enx's Eqstra in $222 mln deal

(Reuters) - South Africa's Bidvest Group on Monday said it will acquire Enx Group's Eqstra Fleet Management and Logistics in a deal worth 3.1 billion rand ($222.34 million) on an enterprise value basis.

The company, which also operates in financial services and automotive retailing, said the deal with Enx is in line with its intent to focus on fleet management.

Eqstra's existing debt will be refinanced by the banks' available capital, Bidvest added.

($1 = 13.9426 rand)

(Reporting by Samantha Machado in Bengaluru, Editing by Sherry Jacob-Phillips)

2019-07-15 09:43:37

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