Bidvest now 50.1% shareholder of Adcock Ingram

7th August 2019

By: Marleny Arnoldi

Deputy Editor Online

     

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Bidvest Group’s shareholding in Adcock Ingram Holdings has increased to 50.1%, from 43.3%, following the termination of Adcock’s broad-based black economic empowerment scheme.

Bidvest had been evaluating its options with regard to its Adcock investment, including selling its interest to a new black entrant, but funding was not forthcoming.

Bidvest concluded that, rather than holding a minority stake, the opportunity existed to further maximise shareholder value by integrating the Adcock business even closer with the Bidvest operating philosophy.

The company then increased its shareholding to 43.4% in June, before it automatically increased to 50% in August.

Bidvest CE Lindsay Ralphs, who was appointed Adcock chairperson in July, said control of Adcock was strategically much better for Bidvest than owning it as an associate.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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