Tiger Brands ups stake in National Foods
Consumer goods group Tiger Brands (TBS) says it has acquired approximately 11% of National Foods Holdings Limited (National Foods) in Zimbabwe from Innscor.
This has aligned their shareholding in that both Tiger Brands and Innscor will each hold approximately 37% in National Foods.
Tiger said the deal was consistent with its intention of expanding on the African continent.
"Tiger Brands has held a shareholding in National Foods for many years and the company remains strategically relevant for Tiger Brands," it said in a statement.
Source: I-Net Bridge
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