Imperial Holdings moves in on Nestrans
IMPERIAL Holdings has entered into an agreement with ThyssenKrupp AG and its subsidiary ThyssenKrupp Materials and Services AG for the purchase of the Nestrans Group with effect from October 1.
The Nestrans Group generates sales of some DM700-million and employs about 1 450 people. It is based around Panopa Logistics, Neska and J H Bachmann, which are active worldwide in the provision of value-added logistics services. Its customer base includes some of Europe’s largest firms.
Nestrans management has entered into contractual arrangements to remain with the business following its purchase. After deducting costs, the acquisition is expected to make a positive contribution to Imperial’s earnings per share.
Final acquisition depends on approval by the SA Reserve Bank, relevant merger control authorities and the boards of Imperial, ThyssenKrupp and ThyssenKrupp Materials and Services.
Bill Lynch, Imperial executive chairman, said: “The acquisition of the Nestrans Group is an important further step in achieving Imperial’s strategy of becoming a leader provider of value-added logistics services.”
