This will align the statutory group structure to the segmental reporting structure. The consolidation will not result in a change in control or any other change to its business relationships and will be implemented on 30 June 2017.
In terms of this restructure, Pepkor Trading will sell its Unitrans Automotive Division to Unitrans Automotive, which owns the Hertz Rent a Car business. Both Pepkor Trading and Unitrans Automotive are currently 100% subsidiaries of the Steinhoff Group.
