Super Group’s Australia subsidiary acquires fleet and leasing services firm
CAPE TOWN - SG FLEET, which is held 60.13 percent by Super Group-controlled Bluefin Investments, would acquire 100 percent of LeasePlan Australia and LeasePlan New Zealand (LeasePlan ANZ) for R4.41 billion, a statement said yesterday.
A voluntary suspension of trading in SG Fleet’s ordinary shares would be lifted on April 6.
LeasePlan ANZ is a provider of fleet management and leasing services in Australia and New Zealand, and is a subsidiary of LeasePlan Corporation, a company based in the Netherlands.
The LeasePlan ANZ acquisition price of AU$387.4 million (R4.41bn) would comprise a AU$114.4m non-cash scrip consideration and AU$273m in cash.
SG Fleet would fund the cash component with AU$175m of new debt and AU$86.3m from the proceeds of the issue of 35.2 million new shares in SG Fleet at AU$2.45 per share, and by using existing cash of AU$11.7m.