GMA Logistics seals BEE deal

AS PART of its black economic empowerment policy, GMA Logistics has just formed a partnership with the black-owned private equity and investment holding company, Imbewu Capital Partners. Imbewu has acquired 25.1% of GMA Logistics – with the remaining shareholding owned by GM Arcache Shipping and management. GMA Logistics has simultaneously purchased the business operations of GM Arcache Shipping. “The business is supported by a global network of agents, partners and associate operators,” said GMA Logistics MD, Eugene Arcache. “Meantime, Imbewu Capital Partners has expertise in private equity and investment banking.”