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As it turns its focus to core markets in Africa.
By Dinesh Nair, Loni Prinsloo and Myriam Balezou, Bloomberg
29 Jan 2021 09:34
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Imperial Logistics is exploring a sale of its European business, according to people familiar with the matter, as it turns its focus to core markets in Africa.
The distributor of chemicals, pharmaceutical and consumer goods is working with Morgan Stanley on the potential disposal, the people said, asking not to be identified discussing confidential information. Deliberations are ongoing and may not lead to a transaction, the people said.
Under Chief Executive Officer Mohammed Akoojee, Imperial has been looking to dispose of non-core assets and position itself as the gateway to Africa for transporting goods. It sold its European shipping business last year to Germanyâs Haefen und Gueterverkehr Koeln AG for an enterprise value of 225 million euros ($273 million).