.gif "Cash Connect")
Rainbow Chicken: Stake in Foodcorp raised by 23.9% more
FMCG SUPPLIER NEWS
IOL Business - Jul 3rd, 11:56
Rainbow Chicken has entered an agreement to acquire a further 23.9 percent stake in food producer Foodcorp, a transaction that would increase this broiler producer’s effective interest in Foodcorp to 88.1 percent. In April, Rainbow acquired a 64.2 percent stake in Foodcorp through its subsidiary Capitau Investment Management.
Rainbow will pay Foodcorp management and Foodcorp Management Holdings a total cash consideration of R393 million for the 23.9 percent
stake. It said increasing its stake would enable it to broaden its range and its ability to compete effectively as a food player. Rainbow shares gained 2.26 percent to close at R15.85.
Related News
BOS Ice Tea launches in Belgium and Holland
18/10/2013 - 09:07
BOS Ice Tea has recently celebrated its third birthday in South Africa, and has taken the first steps into European markets, launching in Belgium and Holland earlier this month.
Walmart accelerating U.S. small store growth; upping tech investments
17/10/2013 - 11:18
Bentonville, Ark. - Wal-Mart Stores detailed a number of moves, including opening smaller stores in the United States, cutting back on overseas growth and increasing its investments in technology and e-commerce, on the occasion of the company’s 20th annual investor meeting.
Fountainhead delivers on market guidance and enters a new phase
14/10/2013 - 10:00
Fountainhead Property Trust last week declared a distribution for the 11 months to 31 August 2013 in line with market guidance and 2% down on its distribution for the comparable 11 months in 2012. The Trust changed its financial year-end from 30 September to 31 August.
CEOs: Africa is on the rise
14/10/2013 - 08:56
Johannesburg - Africa’s CEOs are optimistic about the prospects for growth over the next 12 months, according to the PWC Africa Business Agenda 2013.
Bacardi opens first African office in Kenya
10/10/2013 - 12:32
The World’s largest privately held spirits company, Bacardi Limited is set to open its first African sales outlet in Nairobi, Kenya on Tuesday following the growing demand for luxurious goods such as alcoholic beverages by consumers.
