HARARE – The Competition and Tariff Commission Zimbabwe has approved the acquisition of the majority shareholding in Interfresh Limited by Takura Ventures.
The transaction is however still to be finalised.
Under the deal, Takura is targeting to acquire 100% shareholding in Interfresh Mauritius, which in turn holds 100% shareholding in Ice-Jay – the majority shareholder 82.4% in Interfresh Limited.
Interfresh delisted from the Zimbabwe Stock Exchange in December 2013 and has been on the hunt for investors since.
The remaining 17.6% is passive investment. Takura will, then, acquire these as second phase acquisition. The intention for Takura is to become the sole owner of Interfresh.
Takura is an investment holding company into beef production, catering & facilities
management, private healthcare hospital, retailing of fresh produce, bread manufacturing,
manufacturing & distribution of food products, beverages & wines, property development,
transport & logistics, merchandising & market promotions, factoring, private school,
manufacturing of timber products and agro-processing. It usually invests up to US$7 million in an operation.
The target party – Interfresh, is an integrated agro-processing business involved in citrus fruit production through citrus plantations, cordials manufacturing, nectars & concentrate production, horticulture and cereal crop farming.