https://www.engineeringnews.co.za

Bidvest appoints Barclays, Investec to examine possible London listing of food division

Bidvest CEO Brian Joffe

Bidvest CEO Brian Joffe

Photo by Duane Daws

11th September 2014

By: Natalie Greve

Creamer Media Contributing Editor Online

  

Font size: - +

After announcing earlier this month that it would evaluate the potential benefits of listing its food service operations on the LSE, consumer goods group Bidvest has appointed Barclays Bank and Investec Bank to carry out preliminary investigations to determine the merits of a possible London listing, including an inward secondary listing on the JSE.

“Shareholders will be kept abreast of any further developments following the conclusion of the review by the banks and a further announcement will be made in due course,” the company said in a statement.

Bidvest CEO Brian Joffe surprised the market on September 1 by announcing the group was considering a London listing of the group’s food division, saying this business had made “remarkable” progress after scale had been added through its various acquisitions.

“It would be wrong if [a London listing] was not considered if it is a value proposition for shareholders. We expect the [listing] to be some months away, but the process has already started,” he noted at the time.

Describing Bidvest Foodservice’s general performance as “highly satisfactory”, Joffe reported a divisional trading profit jump of 28% to R3.2-billion for the year, as well as a 23.6% increase in turnover to R102.3-billion, Engineering News Online reported at the time.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Sika South Africa
Sika South Africa

Sika South Africa is a trusted partner for the nation’s infrastructure, commercial, residential, and industrial sectors.

VISIT SHOWROOM 
Alco-Safe
Alco-Safe

Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.05 0.884s - 139pq - 2rq
Subscribe Now