UPDATE 2-Bidcorp says UK logistics unit sale nearing completion [Reuters]
BIDVEST GRP LTD S/ADR (BDVSY)
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Source: Reuters
UPDATE 2-Bidcorp says UK logistics unit sale nearing completion - Reuters 3 Min Read * Sale of UK Contract Distribution unit nearing completion * Developed markets continue to show growth * Full-year HEPS up 12.5% (Recasts with UK Logistics businesses) By Nqobile Dludla JOHANNESBURG, Aug 28 (Reuters) - South African food services firm Bid Corporation Ltd (Bidcorp) said on Wednesday the sale of its UK logistics business was back on track and nearing completion, which would allow the group to focus on its main operations. Bidcorp, which operates in Europe, United Kingdom, Australasia and emerging markets, has been trying to sell the loss-making UK Contract Distribution business for more than a year. In September, a potential unidentified buyer ditched plans to acquire the non-core unit. The group said in its annual results statement that the sale was “hopefully nearing finalisation” but did not give details. “We are optimistic that the distraction of dealing with the discontinued operat
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