Imperial Holdings Limited (JSE:IPL) entered into an agreement to acquire RTT Health Sciences Division and Fuel Africa Logistics (Pty) Limited, RTT Kenya Limited and RTT Ghana Limited from RTT Group (Pty) Ltd. for an enterprise value of ZAR 500 million on September 18, 2012. The transaction will be funded from existing funding resources by Imperial. For the year ended August 31, 2012, RTT Health Sciences division generated revenue of ZAR 1.1 billion. The transaction is subject to Competition Commission approval in South Africa as well as South African Reserve Bank approval. The fulfillment of the conditions precedent is expected to occur by January 20, 2013. As on December 5, 2012, the deal was approved by Competition Tribunal. Merrill Lynch SA (Proprietary) Limited acted as sponsor, TWB Attorneys acted as legal advisor and Brunswick Group LLP acted as public relations advisor to Imperial in the transaction. Rand Merchant Bank acted as financial advisor and Webber Wentzel acted as legal advisor to RTT Group (Pty) Ltd in the transaction.

Imperial Holdings Limited (JSE:IPL) completed the acquisition of RTT Health Sciences Division and Fuel Africa Logistics (Pty) Limited, RTT Kenya Limited and RTT Ghana Limited from RTT Group (Pty) Ltd. for an enterprise value of approximately ZAR 520 million on January 9, 2013.