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Cullinan Holdings Ltd Proposes Acquisition Of Tourism Interests Of Imperial Group Limited


Thursday, 18 Jul 2013 01:05am EDT 

Cullinan Holdings Ltd announced that it has entered into an agreement with Imperial Holdings Limited in terms of which it will acquire the business of Springbok Atlas Coach Charter, Springbok Atlas Touring and Safaris (including Grosvenor Tours and Eastgate Safaris) and 74.9% of the issued share capital of Silverton Travel (Pty) Ltd t/a Edusport (the acquisition). Cullinan has acquired these tourism interests from Imperial for a consideration of ZAR90 million, to be settled by the issue of 81,818,818 ordinary shares in the Company at an issue price of ZAR1.1 per share. The effective date of the acquisition is the first day of the month subsequent to the approval of the transaction by the Competitions Board. 

Company Quote

200.0
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20 Nov 2014