A.P. Møller Capital P/S entered into a binding agreement to acquire Vector Logistics (Pty) Ltd from RCL Foods Limited (JSE:RCL) for ZAR 1.3 billion on March 29, 2023. The transaction is subject to RCL FOODS obtaining consent to the Disposal by lenders to RCL Foods , RCL Foods obtaining consent to the Disposal by certain customers of Vector, RCL Foods obtaining consent to the Disposal by shareholders of an investment in which Vector Logistics owns a minority shareholding, approval from the Competition Authorities in South Africa. Vector Logistics (Pty) Ltd recorded total assets of ZAR 381.2 million and profit after tax of ZAR 34.7 million as of January 1, 2023. The transaction is expected to close on July 3, 2023. RMB bank acted as financial advisor to RCL Foods Limited. Webber Wentzel acted as legal advisor to RCL Foods. Angela Simpson and Janine Howard of Baker & McKenzie South Africa acted as legal advisors to RCL Foods Limited. Kenneth Barry, Gary Felthun, Sibusiso Zungu, Marc Israel, Will Smith and Ewa Orpen of White & Case (London) LLP and White & Case LLP acted as legal advisor to A.P. Moller Capital.

A.P. Møller Capital P/S completed the acquisition of Vector Logistics (Pty) Ltd from RCL Foods Limited (JSE:RCL) on August 29, 2023.