Transport: Imperial gains 70% Imres share

IMPERIAL Holdings had acquired a 70 percent interest in Imres, the Dutch pharmaceutical and medical supplies wholesaler to the African market, for e46 million (R644m) cash, the transport and logistics group said yesterday. The transaction was effective from September 1 and includes put and call arrangements relating to the transfer of the remaining shares in Imres over an extended period to Imperial. Marius Swanepoel, the chief executive of Imperial Logistics Africa, said it had secured Imres’ expert and experienced management team, which had strengthened and complemented its existing skills set in pharmaceutical distribution. – Roy Cokayne