JSE-listed Imperial Logistics says it is in discussions that involve potentially acquiring a privately owned group of companies known as the J&J Group.
The core business of this group is cross-border trucking, supported by integrated end-to-end transport logistics solutions from initial vessel logistics to warehousing, short-haul in-country transport and specialised transport in Mozambique, Zimbabwe, Zambia, South Africa, Malawi and the Democratic Republic of Congo.
Imperial confirms that no material terms have been agreed and there can be no certainty that any transaction will come from the discussions.
Should it decide to proceed with the acquisition, Imperial will also need the approval of supply chain solutions provider DP World, which earlier this month announced the R12.7-billion buyout of Imperial.