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CONSORTIUM Zico Capital and RMB Corvest and Management announced yesterday that they had bought a 100percent interest in automotive parts retailer and wholesaler Autozone.
Zico Capital is an investment company chaired by businessman Sandile Zungu.
"We are very pleased to have concluded this transaction and believe that there is significant potential in the automotive parts industry," Zico chief investment officer Tshego Sefolo said.
The consortium will buy Autozone for R435million from holding company Super Group.
Shareholders gave the deal their blessing on June 15.
Autozone brands currently boast the largest wholly owned branch network in the country. - I-Net Bridge