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  • Photo: Imperial

20.04.2021

Artikel Nummer: 36124

Hidrovias do Brasil takes over from Imperial


South African logistics operator Imperial continues its disinvestment in international activities and its focus on Africa. The company has now decided to sell its South American shipping business.

 

The buyer is the waterways transporter Hidrovias do Brasil, a company founded in 2010 and operating in the north of Brazil (Tapajós-Amazon Rivers) and in the Paraguay-Paraná river system. The closing date of the transaction was 16 April 2021.

 

“This acquisition gives us a very important operational flexibility which will allow us to complement our navigation capacity and operate in regions where we currently do not access,” says Fabio Schettino, CEO of Hidrovias do Brasil.

 

Conditions and prices of the transaction were disclosed: The agreed maximum enterprise value for the interest in the South American operations is USD 90 million (ZAR 1.3 billion), which is the equivalent of almost ten times the ebitda of FY/2020.

 

The enterprise value includes an earn-out component of up to USD 5.0 million (approximately ZAR 73 million), which is payable dependent on water levels over the four-year period commencing on 1 January 2021.

 

Imperial sold its European shipping business in 31 July 2020. The remaining freight management and contract logistics operations within the international logistics business remain for sale. (cd)

www.imperiallogistics.com

www.hbsa.com.br

 

 

 

 

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