Africa M&A Retail

South Africa’s Bidcorp to sell unit to Tesco’s Booker

South African food services company Bid Corp Ltd (Bidcorp) on Wednesday said it would sell its Best Food Logistics unit in Britain to Tesco Plc’s unit, Booker Group.

Bidcorp, which operates in Europe, United Kingdom, Australasia and emerging markets, said as a result of the deal there will be no material financial impact on its net assets or profits for the full year ending June 30, 2020.

Source: Reuters

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