South African based fleet management company Eqstra Fleet Management and Logistics was acquired by a services, trading, and distribution company in the region for $222.34 million, according to Reuters.
The Bidvest group entered into an agreement to buy Eqstra from enX Group Limited, which had previously acquired the South Africa-based FMC in 2016, according to IOL.
The deal was made with the intent to focus on fleet management, reports Reuters.
The company has around 12,300 vehicles under lease and 120,000 fleet products under management, according to Engineering News.
Originally posted on Automotive Fleet