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Sasfin and Imperial holdings Limited ("Imperial") partner in new freight, logistics and finance business
Sasfin Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration Number 1987/002097/06)
Ordinary share code: SFN ISIN: ZAE000006565
Preference share code: SFNP ISIN: ZAE000060273
(“Sasfin” or “the Company”)
VOLUNTARY ANNOUNCMENT- SASFIN AND IMPERIAL HOLDINGS LIMITED
(“IMPERIAL”) PARTNER IN NEW FREIGHT, LOGISTICS AND FINANCE BUSINESS
Sasfin advises its shareholders that the Company has entered into an agreement with
Imperial to dispose of 70% of Sasfin Premier Logistics Proprietary Limited (to be renamed
and herein referred to as “Imperial Sasfin Logistics”) a Sasfin wholly owned subsidiary
(“the Transaction”).
The Transaction will allow Imperial Sasfin Logistics and Imperial Logistics Proprietary Limited
(a wholly owned subsidiary of Imperial) to join forces and offer end to end import and export
solutions. The new venture harnesses the vast infrastructure of Imperial, and trade finance
and forex infrastructure of Sasfin, offering clients a complete door to door service.
Roland Sassoon, Sasfin CEO commented:
“We recognised an excellent fit with Imperial, given the group’s capability in warehousing,
distribution and transport, and business experience and expertise in Africa and elsewhere.
This, combined with Sasfin’s complementary lending and trade solutions to clients, including
trade and debtor finance, FX execution and advisory services, makes Imperial Sasfin
Logistics arguably the most all-encompassing one-stop solution for clients involved in
importing and exporting product. We are confident that our collective skills, experience and
capability will see the emergence of a formidable new player in the South African market.”
The Transaction value is below the threshold required for categorisation in terms of the JSE
Limited Listings Requirements.
Johannesburg
12 July 2016
Investment Bank and Lead Sponsor
Sasfin Capital (a division of Sasfin Bank Limited)
Independent Sponsor
KPMG Services Proprietary Limited
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