Imperial offloads industrial equipment company for R1.03bn

JSE-listed Imperial Holdings has reached an agreement to dispose of the group’s interests in industrial equipment importer and distributor Goscor to the current management and minority acquirers of Goscor for R1.03-billion, which included the discharge of shareholder loans of R730-million. The deal would see Imperial offloading 75% of the issued share capital of Uvundlu Investments, held by Imperial’s 90%-owned subsidiary Associated Motor Holdings (AMH); 67.5% of the issued share capital of Bobcat Equipment Rental, held by Imperial; 67.5% of the issued share capital of Bobcat Equipment South Africa, held by Imperial; and 42.1% of the issued share capital of Goscor Cleaning Equipment, held by AMH.