Zeder buys larger stake in Capespan
Zeder Investments‚ through its wholly owned subsidiary Zeder Financial Services‚ has reached an agreement with Total Produce to buy the shareholding held by Total Produce in Capespan for R258m in cash.
Following the purchase‚ Zeder will hold 226.8 million ordinary shares in Capespan‚ equivalent to 71.1% of the company's total issued share capital net of treasury shares.
Capespan is a global fruit procurement company and is South Africa's biggest fruit exporter.
Zeder is an investment holding company that mainly invests in food‚ beverages and agricultural companies‚ where it believes it can directly or indirectly add value. The purchase allows Zeder to increase its holding in line with its strategy.
The acquisition is not subject to any conditions.