The Bidvest Group Limited (JSE:BVT) acquired B.I.C. Services Pty. Limited for an enterprise value of AUD 163 million on July 7, 2022. Investec Bank Limited sponsored the transaction. The acquisition price was AUD 163 million and funded from the Group's international bond proceeds raised in September 2021. Deloitte Africa acted as transaction service advisor to Bidvest Group. Baker & McKenzie South Africa and Alchemy Law Africa acted as legal advisor to Bidvest Group. Moelis Australia Securities Pty Ltd. acted as financial advisor to B.I.C. Services. Gilbert and Tobin acted as legal advisor to B.I.C. Services.

The Bidvest Group Limited (JSE:BVT) completed the acquisition of B.I.C. Services Pty. Limited on July 7, 2022.