Cargo Carriers to dispose of BHL shares
JSE-listed logistics company Cargo Carriers will sell its 55% shareholding in BHL Zambia and its 51% shareholding in BHL Namibia to Beefco for $1.94-million.
BHL Zambia specialised in the transport of various commodities, including copper concentrates, lime and sulphuric acid and provided logistics solutions within Zambia and sub-Saharan Africa to clients operating in the mining, manufacturing and agricultural sectors.
Cargo Carriers noted that exposure to the fluctuations in the mining economy in Zambia and changes in the currency environment had led it to accept an offer for the business.
Beefco would pay $1 for the BHL Namibia shares, while the remainder of the purchase consideration would apply to the BHL Zambia shares.
BHL Zambia’s assets at end-August stood at R6.9-million, of which Cargo Carriers’ 55% shareholding comprised R3.7-million. Its unaudited loss for the six-month period to August 31 was R7.1-million, of which Cargo Carriers’ share was R3.9-million.
In addition, Cargo Carrier’s earlier contingent consideration of R3.5-million in relation to the original BHL acquisition would no longer be payable.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
At Airshrink - CiP, we surpass customer expectations with innovative MV and LV cable accessories, including heat shrink joints, terminations,...
VISIT SHOWROOM
As one of South Africa's leading manufacturers, Bell Equipment distributes and exports its wide range of heavy equipment globally to mining,...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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
