* To sell Swedish car dealerships for 20 mln rand
* Says sale of FRA to release 84 mln rand cash
Africa's biggest transport and logistics group Imperial Holdings Ltd (IPLJ.J) said on Tuesday it had agreed to buy a 56 percent stake in auto part retailer Midas Group.
The company did not disclose the value of the deal but said Midas operates 394 outlets and together with Imperial's auto parts interest had a combined revenue for more than 3 billion rand ($405.5 million) in the past year.
Imperial also said it would sell a 35 percent stake in its Swedish Nissan auto dealerships to management for about 20 million rand due to limited growth for expansion.
Imperial, whose activities span logistics, car rental and vehicle retailing, added that it would sell the remaining 35 percent stake in Flagstone Reinsurance Africa.
It said the disposal sale would enable it to release 84 million rand to its core industrial and consumer orientated businesses.
Imperial's shares were trading 0.71 percent lower at 79.28 rand by 1452 GMT, slightly behind a weaker JSE All-share index . (Reporting by Tiisetso Motsoeneng)