S.Africa's Imperial to take $58 mln stake in Dutch medical wholesaler - CNBC Africa

S.Africa's Imperial to take $58 mln stake in Dutch medical wholesaler

Southern Africa

by Reuters 0

South Africa's Imperial Holdings will buy 70 per cent of Imres BV, a Dutch wholesaler of medical supplies, for 46 million euros.

This is to expand its pharmaceutical distribution in Africa, the transport company said on Thursday.

Imperial is looking to expand its distribution business for consumer goods and medical products in fast-growing Africa. Although based in the Netherlands, Imres mainly targets Africa's developing healthcare markets, Imperial said in a statement.

Imres has an annual revenue of around 60 million euros. Shares of Imperial were little changed at 176.40 rand at 1226 GMT.

Following the transaction, management of Imres will hold 30 percent of the company, Imperial said.

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