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Bidvest to sell car rental business and remains cautious about acquisitions

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Bidvest to sell car rental business and remains cautious about acquisitions 🔒

Industrial conglomerate Bidvest, whose operations span cleaning services to property interests, is getting out of car rental, the latest company to exit the business as Covid-19 batters the outlook for SA’s tourism sector.

The group has a non-binding offer for Bidvest Car Rental, and is looking to sell to preserve as many of the 1,200 jobs as possible, CEO Lindsay Ralphs said on Monday.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

 

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Bidvest to sell car rental business and remains cautious about acquisitionsThe group says though it has been approached, it likely will not make acquisitions in the coming months
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