Ventures Afrca
Standard Chartered is set to play a financial expertise and advisory services role as South African-based Invicta Holdings Ltd, revealed plans to acquire Kian Ann Engineering Ltd – a large distributor of heavy equipment parts and diesel engine spares listed on the Singapore Stock Exchange – with the transaction, valued at 1,361 million rand, set to boost Invicta’s revenue by 20 percent.
Invicta, a Johannesburg Stock Exchange-listed company, is one of the leading distributors of capital equipment, spare parts and engineering consumables in Southern Africa. The proposed acquisition is in line with Invicta’s international expansion strategy, which focuses on investing in opportunities in those international markets which demonstrate sound growth opportunities. Kian Ann will provide Invicta, a Top 100 company, with a valuable ‘hub’ for expanding its reach into Asia, leveraging on the operations in Africa to create a more sizeable parts group which, together with Malaysia and Indonesia, boosts diversity and further expansion in the region.
The company’s current market capitalisation is approximately $654 million, with their revenue and profits increasing by 24 percent and 39 percent respectively, in the last financial year.
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