OneLogix buys Vision Transport in R110m deal
JSE-listed transport solutions provider OneLogix has concluded a R110-million agreement to acquire 100% of the shares and claims in specialist logistics operator Vision Transport, through its subsidiary United Bulk.
Vereeniging-based Vision Transport was active in the solvent and acid markets of South Africa and neighbouring countries and had a number of blue-chip customers.
Under the terms of the deal, OneLogix and Vision Transport signed an executive employment agreement, which contained restraint of trade provisions and noncompete undertakings in favour of Vision Transport, applicable throughout South Africa, Namibia, Botswana, Lesotho, Swaziland, Zambia, Zimbabwe, Zambia, the Democratic Republic of the Congo, Malawi and Mozambique, during the employment period and for a further 36-month period following termination of employment.
It also restrained Barend Venter, who held 48.5% in Vision Transport and would remain in the business, from rendering executive and managerial services, as well as Cornelius Venter from participating in trade provisions and other noncompete undertakings for the next five years.
Meanwhile, OneLogix also concluded the acquisition of the remaining 26% of the shares and claims in United Bulk that it did not already own from Tanker Solutions for R29-million.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation