Nictus Concludes Trentyre Acquisition

THE Namibia Stock Exchange listed, Nictus has announced yesterday that it has concluded the acquisition of Trentyre Namibia. This follows the fulfillment of all conditions including approval from the Namibian Competition Commission.

Philippus Tromp, executive chairman of Nictus Holdings Limited said the deal compliments the company’s strategic view to enable Nictus to embark on its local expansion.

Tromp said that Trentyre’s operations, with their 15 branches throughout Namibia and 250 personnel will continue operating without any structure changes.

Nictus is the holding company of a group of companies, which includes automobiles, furniture and financial and insurance services units.

Trentyre is one of the largest tyre service providers in Namibia and was established in 1986. It sells and manufactures new multi-brand tyres, retreaded tyres, wheels and allied services.

Source : The Namibian