Bidders emerge for AutoZone

Publication of business rescue plan extended to facilitate start of talks on sale, purchase agreement.

- Roy Cokayne

Potential bidders have emerged for the acquisition of AutoZone, the large privately-owned automotive parts retailer and wholesaler active in southern Africa that was placed in voluntary business rescue effective from 1 July.

This has made it necessary for AutoZone's appointed business rescue practitioners (BRPs), Piers Michael Marsden and Jenna Lee Osborne from Matuson & Associates, on 16 August to request a further extension for the publication of AutoZone's business rescue plan from the major creditor of the company. This is according to a notice published by the BRPS last week.

The notice, a copy of which is in Moneyweb's possession, confirmed that a further extension for the publication of the plan from 19 August to 2 September has been approved by the requisite majority of the creditors' voting interests in the company.