Master­freight ac­quired for R4.7m

The Star Early Edition - - COMPANIES -

SAN­TOVA, the listed in­te­grated lo­gis­tics so­lu­tions provider, yes­ter­day re­ported it had ac­quired 100 per­cent of the share cap­i­tal in Master­freight In­ter­na­tionale Spedi­tion based in Frankfurt, Ger­many, for a max­i­mum of R4.7 mil­lion. It said the ac­qui­si­tion of Master­freight was part of San­tova’s stated strat­egy to ex­pand its in­ter­na­tional foot­print to in­clude all ma­jor global shipping routes. It has ac­quired Master­freight from its found­ing share­hold­ers, who are in­de­pen­dent third par­ties. The ef­fec­tive date of the ac­qui­si­tion will be De­cem­ber 1. San­tova said the ac­qui­si­tion was ex­pected to have a pos­i­tive im­pact on the group’s re­sults but would not ma­te­ri­ally af­fect its 2015 fi­nan­cial year-end re­sults. – Roy Cokayne

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