B.E.T. Put Money into Africa
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AS the result of an offer made on behalf of the British Electric Traction Co., Ltd., which remained open until last week, the B.E.T., through their subsidiary, B.E.T. Omnibus Services, Ltd., have, The Commercial Motor is informed, acquired a substantial minority interest in the equity of the African Transport Co., Ltd.
The interest acquired is in the region of 35 per cent. of the ordinary shares, including those formerly held by Cdr. F. T. Hare, pioneer of African Transport. The controlling interest in African Transport is held by the United Transport Co., Ltd., Chepstow, but the B.E.T. group will have representation on the board.
African Transport were formed in 1951 to take over the business of the Overseas Motor Transport Co., Ltd., and are the parents of a group of bus companies operating in Central and East Africa.