Infinity Logistics and Transport Ventures Limited (SEHK:1442) entered into the Share Purchase Agreement to acquire Access World Group Holdings B.V. from Glencore plc (LSE:GLEN) for approximately $180 million on January 31, 2022. Notwithstanding the Adjustments, the Consideration shall be not more than $180 million. The consideration will be satisfied in cash and will be partly financed by a bank loan, a loan provided by two shareholders and internal resources of the Infinity Group. After the completion, Access World will be wholly owned by Infinity Logistics. For the year ended December 31, 2021, Access World Group reported EBITDA of $38.3 million and loss after tax of $0.5 million. Completion of the acquisition is in all respects conditional upon fulfilment of the following conditions: the Stock Exchange confirming or otherwise indicating in writing that the arrangements described in the Share Purchase Agreement constitute a very substantial acquisition for Infinity under Chapter 14 of the Listing Rules, and such confirmation or indication (as applicable) not having been withdrawn or revoked by the Stock Exchange at any time prior to Completion; Infinity's shareholder's approval and the approval of the Competition Commission of South Africa, the Fair Competition Commission of Tanzania and the Competition and Consumer Protection Commission of Zambia. ING Corporate Finance acted as a financial advisor to Glencore plc. ING Corporate Finance advised Glencore in various aspects of the transaction, including financial modelling and valuation, preparation of sell-side materials, interface with potential investors, process design, and support in bilateral deal negotiations. Upon the execution of the Deed of Termination, the duties and obligations of the Purchaser, the Company and the Seller under the Share Purchase Agreement have been released and discharged. Details of the above were disclosed in the announcement of the Company dated 8 July 2022.

Infinity Logistics and Transport Ventures Limited (SEHK:1442) cancelled the acquisition of Access World Group Holdings B.V. from Glencore plc (LSE:GLEN) on July 8, 2022.