Investment company Zeder, through its wholly owned subsidiary Zeder Financial Services, on Wednesday said it had reached an agreement to acquire the entire shareholding held by Total Produce in global fruit procurement company Capespan Group for R258-million.
The amount was to be paid in cash by Zeder on April 23, which was also the effective date of the transfer to it of 226.81-million ordinary shares in Capespan. This would result in Zeder owning about 71.1% of Capespan’s total issued ordinary share capital net of treasury shares.
Zeder stated that the acquisition of Capespan, which is South Africa’s biggest fruit exporter, would enable it to grow its holdings in line with its strategy of mainly investing in food, beverage and agricultural companies.