SOUTH AFRICA: Toyota takes over African outpost
In a near $US100 million deal, Japan's Toyota Motor Corporation has taken full control of Toyota South Africa from previous majority shareholder Wesco, raising its shareholding from 35.7% to 74.9%, writes Dave Cumming. Wesco is the holding company of the heirs of pioneer industrialist Dr Albert Wessels who established the Toyota manufacturing operation in South Africa and it will hold the remaining 25% as a strategic shareholding.
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