Bidvest acquires fleet manager Eqstra from enX for US$222.34m

SOUTH AFRICA – Bidvest has agreed to buy Eqstra Fleet Management and Logistics from enX for an enterprise value of US$222.34 million (R3.1 billion). Eqstra is a fleet-leasing and management-solutions business focused mainly on the corporate sector which by end of August 2018 had 12,300 vehicles under lease. Bidvest, whose brands include Rennies Travel and motor retailer Bidvest McCarthy, said it is “uniquely positioned to offer a cradle-to-grave fleet solution through Bidvest Bank and the automotive division”. “The acquisition will create funding, scale and operational efficiencies and result in a…

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