Zeder to buy stake in Capespan

Johannesburg - Zeder Investments plans to acquire Total Produce's holding in the Capespan Group, South Africa's biggest fruit exporter, the company said on Wednesday.

Zeder said the holding, bought through its subsidiary Zeder Financial Services, will pay R258m in cash for the holding.

Following the acquisition‚ Zeder will hold 226.8 million ordinary shares in Capespan‚ or approximately 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‚ beverage and agricultural companies‚ where Zeder can directly or indirectly add value. The acquisition allows Zeder to grow its holdings in line with its strategy‚ it said.

The acquisition is not subject to any conditions.

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