Major takeover in Southern African logistics
Two partners in Southern Africa have completed a major takeover in the African logistics industry. The African Infrastructure Investment Managers (AIIM), an infrastructure-focused private equity fund, and the Mokobela-Shataki consortium have acquired 100% of the shares of "The Logistics Group" (TLG), an integrated logistics company operating in Southern Africa with services in port, rail, warehousing and digital transport logistics.
The transaction, valued at ZAR 1.6 billion (USD 110 million), was financed by a mix of equity and debt financing. While AIIM acquired a 74% stake in TLG, the remaining 26% went to the Mokobela-Shataki Consortium.
TLG runs terminals in Cape Town, Port Elizabeth and Durban in partnership with the Transnet National Ports Authority and also operates in Mozambique, Zambia and Namibia. (sh)