Investec advises Oceana on its disposal of CCS Logistics for a consideration of R760 million.
Investec acted as the financial advisor to Oceana, a JSE-listed diversified fishing company, on the disposal of its cold storage business, Commercial Cold Storage Group Limited, trading as CCS Logistics, to a consortium comprised of African Infrastructure Investment Managers (AIIM), Bauta Logistics and Mokobela Shakati for a purchase consideration of R760 million.
About CCS Logistics
CCS Logistics, a wholly-owned subsidiary of Oceana, is a leading cold storage provider in Southern Africa offering primary temperature-controlled storage and handling services of mainly perishable products on behalf of major manufacturers, exporters and importers. CCS Logistics has six cold storage facilities with a storage capacity of c.100,000 pallets across South Africa and Namibia.