Super Group buys into auto business
South African logistics company Super Group has bought a majority stake in Chinese-backed Great Wall Motors SA, the companies said in a statement on Monday.
Great Wall made its debut seven years ago in Africa's top automotive exporter, where its pickup trucks and sports utility vehicles compete with market leaders such as Toyota, Ford and Nissan. Super Group Chief Executive Peter Mountford did not give a value for the 50.1 percent acquisition.
In South Africa, Great Wall has a network of 75 dealers, over 50,000 vehicles on the road and a parts distribution warehouse.
South Africa's auto sector is recovering from a strike late last year.