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- More South African companies will be targeted by foreign buyers, after Imperial Logistics received a R12.7 billion cash bid from state-owned Dubai Ports World (DP World);
- It’s the latest in a growing line of deals which signals foreign interest, with Heineken’s recent announcement that it is in talks to buy Distell following German multinational Linde’s takeover of Afrox and Pepsico’s acquisition of Pioneer Foods in a R26 billion deal last year;
- The bid is yet another example of how SA assets, particularly in the mid-cap industrial space, are viewed as attractively priced by offshore investors;
- Richard Cheesman, a senior investment analyst at Protea Capital Management, said there are many other strong companies in SA whose shares are priced relatively cheap.