Axia Corporation up its stake in automotive spares distributor Transerv

ZIMBABWE – Specialty retail and distribution group Axia Corporation Limited, has increased its stake in automotive spares company Transerv to an effective 51 percent shareholding from 26,01 percent. The acquisition, effective January 1, 2020 was done through the group’s wholly owned subsidiary domiciled in Mauritius, Excalibur Mauritius Limited for a purchase consideration of US$900,000. Group chairman Mr Luke Ngwerume, indicated that goodwill amounting to $15,63 million was recognised at the date of the transaction. “This acquisition will enable Transerv to pursue strategies that maximise shareholder value with further alignment and support…

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