Last $27.59 USD
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As of 8:10 PM 01/28/15 All times are local (Market data is delayed by at least 15 minutes).

bidvest group ltd (BDVSF) Key Developments

Avis Rent A Car Is In Discussion With Avis Budget To Take Over Franchises

Avis Rent A Car Southern Africa is in discussions with Avis Budget Group, Inc. (NasdaqGS:CAR) to take over the exclusive Budget car, van and truck rental franchise for Southern Africa from The Bidvest Group Limited (JSE:BVT). This follows the current Bidvest Car Rental and Avis Budget Group agreement coming to an end and a separation agreement being concluded to ensure a smooth transition through to the end of February 2015. Keith Rankin, Chief Executive Officer of Avis Rent A Car Southern Africa confirmed on January 27, 2015 that it was in discussions with the Avis Budget Group but nothing had been finalized yet.

The Bidvest Group Limited Announces Retirement of Adv FDP Tlakula from the Board

The Bidvest Group Limited announced to shareholders that Adv FDP Tlakula has retired from the board with immediate effect.

The Bidvest Group Limited - Analyst/Investor Day

To present on the South African and Namibia operations

Grindrod Not Up For Sale

Grindrod Bank Limited is satisfied with the performance of its banking unit and isn’t actively seeking a new buyer after The Bidvest Group Limited (JSE:BVT) abandoned plans to purchase the division of the South African shipping company. "The bank is not up for sale,” Alan Olivier, Chief Executive Officer of Grindrod, said by phone from Durban today. “We are very comfortable with Grindrod Bank. It’s doing very well.” “We had an unsolicited offer from Bidvest,” Olivier said. “They decided for their own reasons not to acquire” the bank, he said. Grindrod shares went up to 1.2% to ZAR 22.86 in Johannesburg.

Bidvest No Longer Mulling Food Service Listing

The Bidvest Group Limited (JSE:BVT) said it is no longer considering listing its food service business in London, potentially disappointing investors who had hoped to benefit from the spin-off. In September 2014, Bidvest said it had hired Barclays and Investec to evaluate a potential listing of the unit, adding it would be increasingly difficult to fund an overseas acquisition for the business with a South African balance sheet. However, Bidvest said on Monday it was no longer considering the move.


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