Imperial to take $58m stake in Dutch medical wholesaler

JOHANNESBURG (Reuters) – South Africa's Imperial Holdings will buy 70 percent of Imres BV, a Dutch wholesaler of medical supplies, for 46 million euros ($58 million) in cash 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.

(1 US dollar = 0.7893 euro)

For the full SENS announcement, Click Here