Im­pe­rial buys into Surgipharm

The Star Late Edition - - BUSINESS REPORT -

IM­PE­RIAL Hold­ings, the listed trans­port and mo­bil­ity group, has agreed to ac­quire a 70-per­cent in­ter­est in Kenyabased phar­ma­ceu­ti­cal, med­i­cal and sur­gi­cal dis­trib­u­tor Surgipharm for $35 mil­lion (R470m). The group said yes­ter­day the trans­ac­tion was in line with its strat­egy to be a sig­nif­i­cant route-tomar­ket part­ner of multi­na­tional com­pa­nies in the con­sumer goods and phar­ma­ceu­ti­cal sec­tors in South­ern, East and West Africa. It said Surgipharm would also com­ple­ment Im­pe­rial’s prior ac­qui­si­tions in the phar­ma­ceu­ti­cal sec­tor. – Roy Cokayne

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