Warning: Trying to access array offset on value of type bool in /usr/www/users/liquiggmcb/wp-content/themes/liquidafrica/framework/helpers/wp_head.php on line 90

Imperial Agrees to Sell Regent Insurance Unit for $164 Million

 In news

Imperial Holdings Ltd., owner of South Africa’s biggest car dealership network, agreed to sell its Regent Insurance unit to Hollard Insurance Co. Ltd. for 2.3 billion rand ($164 million).

“While the business of Regent has grown strongly since its establishment, a large, fast-growing portion of Regent’s revenue and profits are unrelated to the Group’s core vehicle and logistics businesses,” the Johannesburg-based company said in a statement on Tuesday.

Regent sells insurance policies in South Africa, Botswana and Lesotho. Proceeds from the sale will go toward expansion and reducing short-term debt, Imperial said.

Imperial shares gained 0.7 percent to 171.23 rand as of 12:22 p.m. in Johannesburg, valuing the company at 34.6 billion rand. Source: Bloomberg

 

Warning: Trying to access array offset on value of type bool in /usr/www/users/liquiggmcb/wp-content/themes/liquidafrica/framework/helpers/image-resize.php on line 139 Warning: Trying to access array offset on value of type bool in /usr/www/users/liquiggmcb/wp-content/themes/liquidafrica/framework/helpers/image-resize.php on line 139 Warning: Trying to access array offset on value of type bool in /usr/www/users/liquiggmcb/wp-content/themes/liquidafrica/framework/helpers/image-resize.php on line 139 Warning: Trying to access array offset on value of type bool in /usr/www/users/liquiggmcb/wp-content/themes/liquidafrica/framework/helpers/image-resize.php on line 139 Warning: Trying to access array offset on value of type bool in /usr/www/users/liquiggmcb/wp-content/themes/liquidafrica/framework/helpers/image-resize.php on line 139 Warning: Trying to access array offset on value of type bool in /usr/www/users/liquiggmcb/wp-content/themes/liquidafrica/framework/helpers/image-resize.php on line 139 Warning: Trying to access array offset on value of type bool in /usr/www/users/liquiggmcb/wp-content/themes/liquidafrica/framework/helpers/image-resize.php on line 139 Warning: Trying to access array offset on value of type bool in /usr/www/users/liquiggmcb/wp-content/themes/liquidafrica/framework/helpers/image-resize.php on line 139
Recent Posts
Contact Us

We're not around right now. But you can send us an email and we'll get back to you, asap.

Not readable? Change text.

Start typing and press Enter to search