UPDATE 1-Super Group in talks about recapitalising company

* Deal would give strategic investor controlling stake

* Plan would include rights offer, share issue, loan

* Recapitalisation would allos Super Group to repay debts

* To report full-year loss

(Adds details)

JOHANNESBURG, July 30 (Reuters) - South African logistics company Super Group Ltd (SPGJ.J) is in talks about a plan to recapitalise the cash-strapped company, giving an unnamed investor control and allowing it to repay its debts.

The firm, which manages vehicle fleets and dealerships, said the possible deal would involve a cash injection of 700 million rand ($89.40 million) via a share issue, a 300 million rand rights offer fully underwritten by the investor, and a 350 million rand new loan facility advanced by the investor.

If implemented, plan would enable Super Group, which is facing a cash crunch as vehicle sales slide, to fully repay lenders, including bondholders.

Shares in the company dropped 4.11 percent to 70 cents by 0845 GMT, lagging the a slightly firmer JSE All-share index .JALSH. The company also said it expected to report a 141-195 cent full-year headline loss per share, hit by restructuring costs.

It said it had approval for a separate rights issue plan, which would go ahead for now. Although if the new proposal is finalised, it would replace that initial plan.

Super Group also said it has reached an agreement in principle with a consortium of investors led by RMB Converst, a member of the Firstrand Group (FSRJ.J), to sell its unit Partcorp Holdings.

(Reporting by Tiisetso Motsoeneng)